As expected, administrators Zelf Hussain, Rachael Wilkinson, and Peter Dickens of PwC have completed the sale of 54 Carpetright stores and two logistics hubs to CWHP Ltd., a business owned by the Tapi Group. 308 Carpetright employees are being transferred to the new owner. In a separate agreement, a deal was finalised between Nestware Holdings Ltd and Tapi Group for Carpetright’s intellectual property and brand.
The administrators confirmed that they would retain employees at the Carpetright head office for a short period to support winding down operations. All remaining employees not included in the transfer have been made redundant.
Zelf Hussain, joint administrator, said: “The sale of some stores and the brand to Tapi has allowed over 300 jobs to be saved and gives the Carpetright brand the chance to continue and flourish under its new ownership.”
Jeevan Karir, Managing Director, Tapi, said, “Our goal, initially, was to try to save all of Carpetright. However, as we looked into the details of the situation, we quickly established that saving the entire business was unviable. The business has been materially loss-making for a number of years, and it has significant debt held by the owner. We then turned ourselves to trying to save a number of stores whilst being mindful of how the Competition authorities would look at any deal. So, we arrived at 54 stores and 2 supporting warehouses. All of which are exceptional and that we’d be proud to have as part of the Tapi family.”
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