Carpetright calls in advisors to explore options

Carpet retailer Carpetright is understood to have appointed advisors Teneo to review options in an effort to improve performance.

According to a report in The Times, the retailer said it is ‘not planning’ for another CVA but is exploring options with a number of advisors to help reduce costs and tackle increased competition and weakened demand.

Detailed in Carpetright’s most recent filed accounts for the 14-month period ended 1 January 2022, total sales generated £372.6m. EBITDA resulted at a profit of £52.4m, while pre-tax losses amounted to £23.1m. The extended trading period was to algin with its parent company.

Over the previous reported period, 18-months to 31 October 2020, sales reached £493.2m, while losses resulted at £64.3m.

Stated in that report, Carpetright said: “Revenues were, unsurprisingly, extremely volatile throughout the reported period primarily due to trading restrictions enforced in reaction to the pandemic.”

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