Carpetright in Falkirk among 92 stores to close

A total of 92 Carpetright stores have been earmarked for closure
A total of 92 Carpetright stores have been earmarked for closure

Carpetright in Falkirk is to be shut down as part of a company-wide restructure.

The Central Retail Park store is one of 92 UK sites earmarked for closure by the poorly-performing firm.

Around 300 jobs will be lost in total, while rent on another 113 Carpetright stores will be slashed under company voluntary arrangement (CVA) proposals being put to landlords.

Carpetright has called on investors to help raise close to £60 million to try to ease financial pressures.

An employer of nearly 2700 staff across 409 shops, the company says it hopes to relocate staff where possible.

Carpetright’s chief executive, Wilf Walsh, said the “tough but necessary” restructuring would allow the company to address unsustainable rents for poorly located stores.

The group has also revealed a “technical breach” of its banking arrangements.

However, bosses say action is being taken to address this issue.