Carpetright in Beckton to close
PUBLISHED: 11:54 12 April 2018
Carpetright in Beckton is to be closed by the struggling retailer.
The branch in Beckton Triangle Retail Park is one of the 92 stores to go under the company’s sweeping restructure.
Around 300 jobs will go with the company saying it hopes to relocate impacted staff where possible.
The chain said 11 stores have already stopped trading, with the rent on another 113 set to be slashed under the company voluntary arrangement (CVA) proposals being put to landlords.
Carpetright will also tap investors for £60 million.
Wilf Walsh, chief executive of Carpetright, said: “These tough but necessary actions will enable us to address the burden of a legacy UK property estate consisting of too many poorly located stores on unsustainable rents, and are essential if we are to restore our profitability and deliver a successful turnaround.
“We will remain in close contact with all colleagues to keep them fully informed as we move through this process.”