Full List Of 272 Stores In Danger As Major British Retailer Teeters On The Brink Of Administration | The...

Reference: See here

The Sun exclusively reported yesterday that Carpetright had filed a notice to appoint administrators.

It is understood that experts from PwC are set to be appointed as part of the process, who will seek to find emergency funding or a rescue buyer for the troubled business.

Once a notice of intent to appoint administrators is filed, companies have around 10 days to attempt to avoid insolvency.

The Times also reported earlier this week that Carpetright had been put up for sale, with firm PricewaterhouseCoopers (PwC) advising.

But it puts fresh doubt over the long-term future of the chain, which has 272 stores and employs 1,852 people.

A sale of the business could involve a buyer stepping in to save all, or just parts of the company.

Furniture and homeware sales have slumped across the industry as consumers delay making big purchases and prioritise essential bills .

The administrator has to leverage the company's assets and business to repay creditors any outstanding debts.