Carpetright to enter administration in UK

Carpet and flooring retailer, Carpetright, is set to enter administration in the UK, putting the future of its more than 1,800 staff there at risk.

The carpet and flooring retailer has filed a notice of intent in Britain to appoint administrators.

The company operates seven stores in Ireland in Dublin, Kildare, Kilkenny and Wexford, which it is understood continue to trade as normal.

It is as yet unclear what the development will mean for those outlets or their staff.

Attempts to contact the company for comment about the future of its Irish operations have so far proven unsuccessful.

It is understood that experts from PwC are set to be appointed as part of the UK administration process, who will seek to find emergency funding or a rescue buyer for the troubled business.

Once a notice of intent to appoint administrators is filed, it gives companies around 10 days in which it can attempt to avoid insolvency.

The company operates 272 stores across the UK which are also continuing to trade as normal.

Carpetright, which is owned by Nestware Holdings, has suffered from weaker demand for carpets as homeowners shifted towards hard flooring as well as a major cyberattack in April which halted trading.