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

Announcement on future of Cavendish House Image

Announcement on future of Cavendish House

After weeks of speculation which has seen closure for some of its namesakes a decision has been reached on the future of the House of Fraser store in Cheltenham.

Plans to increase parking charges come under attack Image

Plans to increase parking charges come under attack

Gloucestershire County Council's plans to increase on-street parking permit charges for residents have been criticised as "unfair and wrong."

Former hospital site will be cleared to make way for car parking Image

Former hospital site will be cleared to make way for car parking

A former hospital building in Cirencester is being demolished to make way for new car parking spaces.

Two die in road collision in the Cotswolds Image

Two die in road collision in the Cotswolds

Two men died and two other men suffered serious injuries in a road collision near Church Westcote in the North Cotswolds.

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