Carpetright announces plans to axe 10 Yorkshire stores

'‹Retailer Carpetright has '‹announced plans to close 10 stores in Yorkshire as part of a restructuring plan that could '‹involve the loss of around 300 jobs and 92 store closures around the UK.
By The Newsroom
Published 12th Apr 2018, 11:14 BST
Updated 12th Apr 2018, 11:16 BST
Carpetright said the rent will be slashed on 113 under-performing stores as part of the rescue dealCarpetright said the rent will be slashed on 113 under-performing stores as part of the rescue deal
Carpetright said the rent will be slashed on 113 under-performing stores as part of the rescue deal

​The affected Yorkshire stores are Barnsley, Harrogate, Huddersfield, Leeds - Birstall, Leeds - Hunslet, ​Scarborough, Sheffield - Meadowhall, Wakefield - Cathedral, Wakefield- Westgate and York - Foss Island.

The group said of the 92 stores being offloaded, 11 have already stopped trading.

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Carpetright added that the rent will be slashed on another 113 under-performing stores as part of the rescue deal.

The company said it hopes to relocate impacted staff where possible.

The group​,​ which employs nearly 2,700 staff overall​,​ also confirmed an investor cash-call to raise around £60​m through a rights issue to put the firm on a firmer financial footing.

The details came as it revealed a technical breach of its banking arrangements, but the group said it was taking action to address this and ensure it is amended for the future.

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Wilf Walsh, chief executive of Carpetright, said: "These tough but necessary actions will enable us to address the burden of a legacy UK property estate consisting of too many poorly located stores on unsustainable rents, and are essential if we are to restore our profitability and deliver a successful turnaround.

"We will remain in close contact with all colleagues to keep them fully informed as we move through this process."

Related topics:YorkshireBarnsleyScarboroughHuddersfieldHarrogate