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Date: 12/04/2018 | Ref. 745165
Mandatory Credit - Picture by Freddie Parkinson/Press Eye ©
Thursday 12 April 2018
Retailer Carpetright says it is closing 92 stores and cutting 300 jobs as part of a restructuring plan.
It recently said it had started talks with lenders to ensure it does not breach the terms of its bank loans.
The chain is planning a company voluntary arrangement (CVA), which will allow to it to shut the worst-performing stores and ask for rent concessions on another 113 sites.
It is the latest in a long list of businesses to run into trouble.
Retailers are being pummelled by a range of problems, including a shift from High Street shopping to online, as well as consumers having to tighten their belts with inflation outstripping wage growth.
