Skip navigation

Gloucestershire Business News

Underlaying problems at Carpetright continue

Carpetright is set to close dozens of stores, making hundreds of employees redundant as it continues its emergency restructure.

The struggling retailer, which has stores in Cheltenham and Gloucester, plans to axe around 300 jobs across 81 stores as it pushes ahead with its plans for a company voluntary arrangement (CVA) to avoid being completely floored, as reported by Retail Gazette.

The company announced a rescue plan last month to raise £60 million by selling equity in emergency funds, while reducing rents and shutting underperforming stores.

Ninety two stores have been earmarked for closure and 11 have already ceased trading. The flooring retailer is also thought to be seeking rent reductions on a further 113 stores.

Landlords and shareholders are expected to vote on the planned rescue deal at the end of the month.

It's not yet known if stores in Gloucestershire will be affected by the closures.

Subscribe to Punchline

Related Articles

£1.6 million Gloucestershire hotel up for grabs Image

£1.6 million Gloucestershire hotel up for grabs

A Gloucestershire Georgian country house hotel is on the market.

Firm’s £2.9m funding bid raises more than £5m Image

Firm’s £2.9m funding bid raises more than £5m

On Friday when a Gloucestershire engineering firm announced it was aiming to raise not less than £2.9 million it appears to have gotten investors more than a little excited.

Business expert: Is your head in the cloud or the sand? Image

Business expert: Is your head in the cloud or the sand?

Whatever your media choice you cannot escape the cloud accounting message – be it radio, TV, business magazines or the free magazine from a hotel chain.

County council awards £245m contract to West-Sussex firm Image

County council awards £245m contract to West-Sussex firm

A £245m maintenance contract for Gloucestershire has been awarded after a clean sweep of its highways contractors by the county council.

Copyright 2018 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.