Flooring retailer Carpetright is reportedly on the brink of collapse, putting around 1,850 jobs at risk.

The business, which has 272 UK stores including one in Watford's Colne Valley Retail Park, has filed a notice of intention to appoint administrators, but said in a statement it would continue to trade as normal. 

Kevin Barrett, chief executive of Nestware, which owns Carpetright, said: "We remain focused on securing external investment to ensure as few customers and colleagues are impacted as possible.

"They are our main priority and we are taking all appropriate action to make sure they are informed and supported through this process.

"We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future."

It follows reports in May that Carpetright was cutting more than 25 per cent of its head office staff in Essex in a bid to save cash.

The business is believed to have been hampered by weak demand amid the cost of living crisis - which has seen families tighten their belts.