Watford Carpetright closing within days in rescue deal

Flooring chain Tapi Carpets & Floors has bought 54 Carpetright shops, two warehouses, the brand and its intellectual property in an administration deal.

The buyout will not save the majority of the business as 213 locations, including the Colne Valley Retail Park branch, will shut “over the coming days” with more than 1,000 jobs lost, according to PA.

Over 200 Carpetright stores will close within days. Almost all the Hertfordshire stores, Watford, Stevenage, Letchworth and Welwyn Garden City, are set to close, while only the Hemel Hempstead location will be spared.

It came to light earlier in July that the flooring chain was close to collapse and was set to appoint PwC as an administrator.

• Carpetright set for rescue but Hertfordshire jobs and stores at risk
• Carpetright 'close to collapse with 1,850 jobs at risk'

A spokesperson for rival retailer Tapi admitted the debt had stopped more of the business being saved, adding: “As we looked into the details of the situation, we quickly established that saving the entire business was unviable”.

The business is believed to have been affected by weak demand during the cost of living crisis which has seen families cut spending.

Kevin Barrett, chief executive of Carpetright's parent firm Nestware Holdings, added: "Whilst we succeeded in finding a buyer, the deal is limited to a select number of stores rather than the business as a whole and will sadly impact a large number of colleagues and staff.

"We have tried everything to turn Carpetright around and I'm truly sorry that we were unable to save more jobs."

It is known what will be the Watford location’s last day of trading or how many jobs will be lost at the store. Carpetright has been contacted for more information.