Home Business NewsBusiness Retail bloodbath continues: Carpetright and Mothercare shares crash

Retail bloodbath continues: Carpetright and Mothercare shares crash

by LLB Reporter
19th Mar 18 4:09 pm

Find out here

Shares in Brirtish retailers were badly affected after it was revealed that Carpetright could shut stores as part of a deal with creditors.

Shares in Carpetright were down 11 per cent today after it was revealed that the floorings retailer is exploring ‘a range of options’ to reboot the business like company voluntary arrangement (CVA), which means it could close its loss-making outlets. It has 409 shops in the UK.

A spokesman for Carpetright said: ‘As announced on March 1 we are examining a range of options to accelerate the turnaround of the business and strengthen its balance sheet. This process is ongoing and the group will update the market on these initiatives as required.’

Meanwhile, shares in Mothercare, which is closing stores to cut costs and stay afloat, also crashed 18 per cent. Mothercare plans to cut its store numbers from 140 to 80.

 

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]