British chain Carpetright in trouble again

Carpetright issued a letter of intent to appoint an insolvency administrator on 12 July 2024. It protects the British flooring chain from creditor claims during ongoing sales negotiations. Kevin Barrett, CEO of parent company Nestware Holdings, is quoted in the media as saying that there are "promising discussions with interested parties that are heading in the right direction and confirm that Carpetright has a future". Carpetright had already run into financial turbulence in 2018 and was ultimately acquired in full by the investment company from the Meditor Group in 2020.

On its website, the company justifies its financial difficulties with the consequences of a hacker attack in April, which severely restricted its business activities and interrupted its restructuring plans. Due to weak business figures, the chain store had announced a drastic reduction in costs, including massive job cuts of up to 25%. The company currently operates around 270 shops in the UK and has around 1,850 employees.

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