Overcast

Overcast

max temp: 11°C

min temp: 6°C

Search

Carpetright feeling the burn as stores close - but one in East Anglia has been spared

PUBLISHED: 10:20 02 November 2018 | UPDATED: 10:20 02 November 2018

A Carpetright store

A Carpetright store

Archant

Carpetright is closing six more stores before Christmas, but the fate of one regional store, which had been earmarked for closure, looks more promising.

In the first half of the year, Carpetright closed 67 under-performing stores, including one in Great Yarmouth, and the Kings Lynn outlet had been on the company’s list of stores scheduled to be closed down.

But a spokesperson for the company said this morning: “We are currently trading in Kings Lynn with no set plans to close the store.”

The fate of stores in Suffolk and East Essex hangs in the balance, as the spokesperson added: “We cannot comment on whether we will be shutting down stores in those areas as it is confidential and an ongoing process.”

Like-for-like sales at Carpetright remained in negative territory in the latter part of the 26 weeks to October 27, while restructuring disruption took its toll.

The company is pushing through a Company Voluntary Agreement (CVA), an insolvency procedure allowing it to shut 81 stores.

The store closure programme will lead to the loss of hundreds of jobs.

Boss Wilf Walsh said: “This is a transitional year for Carpetright as we work through our restructuring plan.

“I am pleased to report that this activity is firmly on track and has started to yield benefits as we create a right-sized and well-located portfolio of stores on sustainable rents.

“We also continue to modernise our existing estate as well as investing in our digital capability.”

The retailer also secured £65 million of equity financing to fund the business while it carries out store closures.

Carpetright said it is confident of achieving the £19 million of benefits announced as part of its recapitalisation.

Search hundreds of local jobs at Jobs24

Two Ipswich residents have been left with bills of more than £1,000 between them after subjecting their neighbours to late-night, high-volume music by Status Quo and Natalie Imbruglia.

Police were unable to act on five cases of adults having sex with teenagers in their care over the last four years due to a legal loophole, the NSPCC has revealed.

Eagle-eyed shoppers will have noticed that the former Grimwade’s store in Ipswich town centre is fast transforming, and Pret A Manger will soon be opening their first store in town.

An Ipswich teenager representing the town at the UK’s Youth Parliament has called for more action on knife crime during a debate in the House of Commons.

A crunch summit between Shotley Pier stakeholders is being held to try and decide on the plans for the future of the Suffolk tourist attraction.

Table tennis, jamaoke sessions and a ‘Quizzee Rascal Wednesday’ are all on offer at new Waterfront bar Wiff Waff opening tonight (Friday).

The new-look Cornhill will host thousands of people next week for the Ipswich Town Hall Christmas lights switch on.

If you are a parent of a three or four year old you will have received a letter from Suffolk County Council about school places this week. But what do you do next?

A motorist was stopped in Ipswich after vehicle checks found the car not to have a valid MOT.

Ice skating has become a staple tradition for many families at Christmas and pop-up ice rinks are set to appear everywhere from Felixstowe, where skating is free, to Newmarket.

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Ipswich Star daily newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24