Carpetright struggles with £19m order backlog as it fends off Tapi


Neil Craven for The Mail on Sunday

Struggling retail chain Carpetright is sitting on £19 million of unfulfilled customer orders as it presses ahead with a refinancing.

The company last week agreed a restructuring plan that means dozens of landlords will take a cut in rent payments and 92 stores will close down. 

Tomorrow it faces a shareholder vote on the plan and next month it will ask investors for up to £60 million as it battles to fend off rival stores.

Struggling: Retail chain Carpetright is sitting on £19 million of unfulfilled customer orders

Struggling: Retail chain Carpetright is sitting on £19 million of unfulfilled customer orders

Struggling: Retail chain Carpetright is sitting on £19 million of unfulfilled customer orders

Carpetright has complained that new rival Tapi, run by the son of its founder Lord Harris, has made business more difficult.

The company has more than 42,000 customer orders on its books – worth an average of £444 each.

The company has won the support of Meditor Group, which last week almost doubled its stake to 29.99 per cent. Meditor has also lent the company £12.5 million.

A spokesman said: ‘It is business as usual and all customer orders will be fulfilled.’ 

 

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