Carpetright - Administration

Carpetright, the UK's largest retailer of carpets and flooring, entered administration on 22 July after facing challenging trading conditions predominantly due to changing consumer preferences and a drop in home improvement spending post-pandemic.

Immediately on their appointment as joint administrators, Zelf Hussain, Rachael Wilkinson and Peter Dickens of PwC completed a pre-pack sale of the Carpetright brand, intellectual property, 54 stores and two warehouses to rival Tapi Carpets, saving 300 jobs.

Unfortunately, 211 stores were not sold and will be closed, leaving 1,000 employees facing redundancy.

The Royal Bank of Scotland, Natwest Markets and Nestware Holdings have registered charges against the company.