More than a half of Carpetright’s UK stores could be at risk of closure as rival Tapi closes in on buying the flooring chain.
Some 150 of the retailer’s 272 stores are in near distance of a Tapi, raising questions of how much of the estate will be sold to Carpetright’s biggest competitor, Retail Week reported.
The retailer – which was founded in 2014 by Martin Harris, the son of Carpetright founder Lord Harris of Peckham, who is also a shareholder – has opened many of its 175+ shops on the same retail parks as Carpetright and in some cases, right next door.
It comes as The Times reported Tapi was in pole position to acquire the retailer after submitting a bid to buy the brand name and a number of stores.
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Carpetright filed a notice of intention to appoint administrators last week as it sought a “period of protection” whilst it raced to secure additional investment.
It is thought that the retailer’s execs had not wanted to approach Tapi regarding a deal due to fears its rivals could gain access to sensitive trading information and a quick sale could be delayed due competition clearance.
Kingfisher, Alteri, Gordon Brothers and The Floor Room – which is also owned by Carpetright owner Nestware Holdings – are all understood to be interested parties in a pre-pack sale.
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