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Headline : Carpetright crash leaves creditors £80m out of pocket

Read more from the original article on here at lse.einnews.com.





Tags : #carpetright #crash #leaves #creditors #80m #out #pocket


No. of Paragraph 7

Carpetright collapsed into administration owing about £80 million to creditors, including suppliers, customers and landlords that face being left almost entirely out of pocket.

Trade creditors, which include the suppliers Condor and AW Weavers, were owed about £24 million when Britain’s biggest flooring chain collapsed on Monday, according to documents seen by The Times.

The carpet and hardwood flooring retailer had built up £30.9 million in arrears to “other creditors”, including customers, while “other accruals” amounted to £15.6 million.

Documents show that Carpetright had liabilities worth £81.7 million on its balance sheet at the end of April. That figure is understood to have “not changed materially” since then.

Read more from the original article on here at lse.einnews.com.


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