Jobs at risk at United Carpets
5 October 2012
Jobs are at risk in the UK as United Carpets Ltd has been placed into administration.
United Carpets has 72 stores in Britain and currently employs 420 staff. After filing for administration, the carpet retailer bought back the majority of its assets and all the stores. This allows the firm to get rid of the debt connected to the subsidiary, which amounted to approx £9.7million. This may save jobs, but the majority of highstreet shops are still threatened with closure.
Begbies Traynor has been appointed as administrator.
In a statement, United said: "The appointment of the joint administrators followed a review of the business which concluded that without substantial rent reductions a number of the corporate and franchised stores would be unable to continue to trade.
"Efforts to agree reductions with landlords were not successful. The board is disappointed at the need to take these steps, but is confident that the core of locations remaining once the restructure is concluded will, with appropriately adjusted overheads, provide the foundation for a successful and sustainable business."
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