Buzz People

Carpetright to close a quarter of stores in restructuring plan

Carpetright says it is closing 92 stores and cutting 300 jobs as part of a restructuring plan.
The retailer recently started talks with lenders to ensure it does not breach the terms of its bank loans.
The chain is planning a company voluntary arrangement (CVA) that will allow it to shut the worst-performing stores and ask for rent concessions on another 113 sites.
It is the latest in a long list of businesses to run into trouble.
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