Low on funds Carpetright attested to having submitted a notification of intent to designate administrators.
A firm can potentially escape an insolvency process by taking such action, which usually provides them up to 10 days.
The financially struggling company issued a statement stating that it will carry on with business as usual from its retail locations and online as it continued to seek a reprieve.
In an attempt to ensure Carpetright’s long-term survival, parent company Nestware Holdings said it was still working to “finalize additional investment,” but it also hinted that job losses would inevitably occur in any case.
Kevin Barrett, the CEO of Nestware, stated: “We continue to concentrate on obtaining outside funding to guarantee as it.
They are our top priority, and we are doing everything within our power to ensure that they are aware of and assisted during this process.
We are encouraged that Carpetright has a bright future because we have started fruitful discussions with interested parties that are headed in the right direction.
