Carpetright bought by Tapi in rescue deal but more than 1,000 jobs face axe

Carpetright has been bought in a rescue deal by rival Tapi, but more than 200 stores are expected to shut and more than 1,000 jobs cut.

Flooring retailer Tapi will buy the Carpetright brand, intellectual property, 54 stores and two warehouses in a pre-pack administration deal.

The deal will also save more than 300 current jobs at Carpetright.

However, the deal will not save the majority of the business, including its head office in Purfleet, Essex.

Carpetright filed a notice to appoint administrators earlier this month, after struggling in the face of weaker demand and a major cyberattack in April.

The company employed 1,852 people and operated 272 stores across the UK before entering insolvency.

Tapi was founded in 2015 by Lord Harris of Peckham, who also founded Carpetright. He sold all his stock in Carpetright in 2014.

Tapi has grown rapidly in recent years and runs about 175 shops across the UK.

Published: 22/07/2024 by Radio NewsHub