Sheffield Carpetright branch to shut as struggling firm axes 92 stores

Carpetright is closing 92 UK stores.
Carpetright is closing 92 UK stores.
0
Have your say

A Sheffield branch of Carpetright is to close as part of a closure programme which will see 92 stores closed and 300 jobs lost.

The Meadowhall Retail Park branch is to be closed along with a branch in Barnsley.

The firm's other Sheffield branches - within Atkinsons' department store in The Moor and at Drakehouse Retail Park - will stay open, along with a branch in Doncaster at Danum Retail Park.

The firm announced its restructuring plan this morning and is in 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.

Carpetright, which has more than 400 UK shops, has been struggling with underperforming outlets which have made its rental costs harder to shoulder.

Wilf Walsh, Carpetright chief executive, said: "These tough but necessary actions will enable us to address the burden of a legacy UK property estate consisting of too many poorly located stores on unsustainable rents and are essential if we are to restore our profitability and deliver a successful turnaround."