Carpetright at Westwood under threat of closure

The store is likely to close this September

The future of the Carpetright store at Westwood is at risk following an announcement of closures across the country.

Carpetright is aiming to shut 81 outlets on, or just after, September 23 due to poor locations, rent costs and the growing market for online shopping.

The store at Westwood retail Park is one of those at risk.

A Carpetright spokesperson  said: “We’re announcing some tough but necessary steps to address our legacy property issues and restore our profitability.

“We are launching a CVA proposal that, if approved, will result in the closure of 81 poorly located or over-rented stores, from a UK total in excess of 400, later this year.  Planned closures will not affect our customers, all orders will be fulfilled either by the original store or a neighbouring Carpetright where necessary.

“Regrettably, we expect this will mean that around 300 colleagues would leave the business but we will make every effort to find alternative roles for those affected wherever possible.

“We’re also announcing that we plan to follow the CVA with an equity financing to raise c. £60m of new funds to invest in our stores and online offer, to strengthen the competitive position of the ongoing business.

“It’s important to stress that throughout the CVA process, we will continue trading as normal and customers can continue to shop with Carpetright with confidence. We do not expect the proposed stores to close before September 2018.

“We will remain in close contact with all colleagues to keep them fully informed as we move through this process.”

The news comes on the heels of the announcement that the New Look store in Ramsgate is one of 60 that is earmarked for closure as the firm enters a Company Voluntary Arrangement (CVA) and Poundworld at Westwood Cross closing its doors.

Claire’s stores, with branches in Ramsgate, Margate and Westwood Cross, are also under financial pressure.

A CVA agreement means the company will pay a proportion of its debts – an agreed amount for every £1 over an agreed period of time.

Failure to abide by the terms could result in liquidation.