Shares in Carpetright have plunged on reports the struggling retailer may close stores and axe jobs as it pieces together a rescue plan. Carpetright, which has 409 UK shops and 20 in Ireland, said it was exploring “a range of options” to reboot the business and a final decision had not been made. The prospect of a CVA — first reported by the Sunday Telegraph — sent shares tumbling more than 10 per cent in morning trading on the London Stock Exchange. A spokesman for Carpetright said: “As announced on March 1 we are examining a range of options to accelerate the turnaround of the business and strengthen its balance sheet. “This process is ongoing and the group will update the market on these initiatives as required.”PA

Source: The Irish Times March 19, 2018 13:29 UTC