The future of one of the biggest UK carpet retailers is uncertain, leaving its Isle of Wight store at risk of closure.
It is understood that Carpetright, which employs 1,852 people and operates 272 stores across the UK, has filed a notice of intent to appoint administrators.
The carpet and flooring retailer has around ten days to attempt to avoid insolvency.
Found on Taylor Road opposite Home Bargains, the Island’s only showroom has been a mainstay in Gunville Trading Estate. At the same time, shops around it chopped and changed, including Argos and Dreams.
The store has undergone two major transformations since 2010, seeing the red logo and shopfront slowly phased out for the updated grey in 2016.
Carpetright, which is owned by Nestware Holdings, suffered a major cyberattack in April which halted trading and has seen a decline in demand for carpets, as homeowners switch to hard flooring.
As reported by PA, Kevin Barrett, CEO of Nestware Holdings, said: “We remain focussed on securing external investment to ensure as few customers and colleagues are impacted as possible.
“They are our main priority, and we are taking all appropriate action to make sure they are informed and supported through this process.
“We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future.”
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