|Bid||0.00 x 55500|
|Ask||0.00 x 520000|
|Day's Range||37.00 - 38.75|
|52 Week Range||31.90 - 250.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 25, 2018 - Jun 29, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||70.00|
Carpetright’s decision to close 92 stores with a loss of 300 jobs is the latest blow suffered by a struggling UK retail sector . It has been a difficult start to 2018 for the high street, with Toys R Us ...
Struggling floorings specialist Carpetright on Thursday firmed up its plans to overhaul the business as it fights for survival. The retailer, which has been grappling with poor sales and a hefty rent bill, said it will close 92 stores from September onwards via a company voluntary arrangement if it gets the nod from creditors and shareholders. The move will lead to 300 job losses but Carpetright will try to move staff to new roles where possible, chief executive Wilf Walsh promised.
The U.K. floor-covering retailer said that it plans to close at least 92 sites and to raise around 60 million pounds ($85.1 million), in a bid to restructure the business.
Struggling British flooring retailer Carpetright (CPRC.L) said it would seek creditor approval for a restructuring plan to close 92 stores and reduce rents at 113 of its sites, resulting in about 300 job losses. Shares in Carpetright, which has in recent months issued a series of profit warnings because of weak UK retail spending and what it calls poorly-located outlets, fell 19 percent to 34 pence in early trading on Thursday. Many retailers are suffering from brutal trading conditions on the British high street, with Toys R Us UK and electronics retailer Maplin having already been pushed into administration this year, while fashion retailer New Look has also closed stores.
Carpetright’s decision to shut dozens of stores in a “fundamental restructuring” has pulled the rug from under its already threadbare share price. The retailer, which has been struggling against tough ...
Carpetright will close 92 shops across the UK, putting 300 jobs at risk as it seeks to combat increasing financial pressure. On Thursday, Carpetright said it had identified 205 sites in the UK that are underperforming and/or on unfavourable lease terms, or “in certain cases, not expected to have significant strategic value to the company going forward”. Under the terms of a company voluntary arrangement (CVA), which is deployed by firms who want to continue trading while dealing with debt problems, Carpetright will seek reduced rent and revised lease terms for the 113 sites it is not closing.
Beleaguered British floor coverings retailer Carpetright has struck an emergency agreement with its lenders to close or exit leases of at least 92 shops in a restructuring that will affect 300 jobs. Carpetright, ...
Carpetright plc (LSE:CPR), a specialty retail company based in United Kingdom, saw a double-digit share price rise of over 10% in the past couple of months on the LSE. WithRead More...
Today I will examine Carpetright plc’s (LSE:CPR) latest earnings update (28 October 2017) and compare these figures against its performance over the past couple of years, in addition to howRead More...
Carpetright said it plans to close underperforming stores as it considers a company voluntary arrangement with its creditors. The U.K.-based floor-covering retailer also said it received a loan to cover ...
It has agreed a 12.5 million pound loan with shareholder Meditor in exchange for 5 percent of new shares at Tuesday's 40.1 pence per share closing price. "These further cash resources will enable us to make the necessary decisions free from short term funding pressure," said Wilf Walsh, Carpetright's Chief Executive. "While the board is confident that its brand investment and store refurbishment strategies have been, and will continue to be, successful in enabling Carpetright to respond to increased competition, it believes additional measures are necessary to directly address this legacy property issue," he added.
Carpetright plc (LSE:CPR) is a small-cap stock with a market capitalization of UK£37.70M. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they endRead More...
Britain's biggest floor coverings retailer Carpetright issued a third profit warning in four months and said it was talking to lenders to shore up its balance sheet - the latest stores group to suffer from UK consumers reining-in spending. On Wednesday brutal trading conditions sank two high-profile UK retailers, with the collapse of Toys R Us UK and electronics chain Maplin into administration, threatening 5,000 jobs. It said that while the trend in UK like-for-like sales had improved, it remained negative.
Britain's biggest floor coverings retailer Carpetright (CPRC.L) lost almost half of its stock market value on Friday after it warned on full-year profit, blaming a post-Christmas drop in sales on waning consumer confidence. With official data confirming 2017 as the weakest year for UK retail since 2013, Carpetright's profit alert will stoke fears Britons have further reined-in spending on big ticket items at the start of 2018. Carpetright's fortunes are closely tied to the strength of the UK housing market and it is regarded by analysts as a lead indicator on the health of the economy, historically being "first in, first out" of a recession.