Carpetright has confirmed plans to close 92 stores, with the potential loss of 300 jobs, in a restructuring process designed to stave off administration. Quick guide Carpetright shops earmarked to close Show Hide Carpetright shops earmarked to close AyrBallymenaBangor (N.I.) Show Hide What is a company voluntary arrangement? A company facing financial difficulties prompted by heavy debts can apply for a company voluntary arrangement in order to avoid administration or other more disruptive forms of insolvency. In order for a CVA to go ahead, the company must call a meeting of unsecured creditors, which may include suppliers and landlords.

Source: The Guardian April 12, 2018 08:04 UTC