Carpetright drafts in advisers to explore sale
It also took a hit back in April when a cyberattack left it unable to trade online and in-store for nearly a week
Carpetright has reportedly been put up for sale amid increased competition and a slowdown in demand, according to The Times.
The company has drafted in advisers PwC to launch a formal sales process with a sale likely to be completed as a pre-pack deal.
It could also come in the form of a company voluntary agreement which could leave customers and creditors out of pocket.
Back in April, Carpetright appointed Teneo to look into cost saving measures. In June, the company revealed that it was looking to get rid of more than a quarter of its head office staff, putting 70 jobs at risk.
The company stated that this reduction in central support roles reflected the depletion in the retail portfolio, and revenues, that the business has experienced over the past eight years.
Following a detailed review of the business, cost reduction efforts were also outlined across IT, warehousing and distribution, central support and field management.
By taking these actions, the company estimated it would be able to remove about ยฃ22m from the cost base.
It also took a hit back in April when a cyberattack left it unable to trade online and in-store for nearly a week.
Retail Sector has contacted Carpetright for comment.
