Doncaster Carpetright branch avoids axe as struggling firm axes 92 stores

A Doncaster branch of Carpetright has avoided the axe as part of a closure programme which will see 92 stores closed and 300 jobs lost.

Thursday, 12th April 2018, 10:56 am
Updated Thursday, 12th April 2018, 11:01 am
Carpetright is closing 92 stores.

The Danum Retail Park branch on York Road is among those not on the closure list - but outlets at Meadowhall Retail Park, Sheffield along with a branch in Barnsley are to shut.

The firm's other South Yorkshire branches - within Atkinsons' department store in The Moor and at Drakehouse Retail Park - will stay open.

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.

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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."