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Walsh: Carpetright restructuring is working

Wilf Walsh, Carpetright ceo has insisted that the restructuring of the group is producing benefits.

‘This is a transitional year for Carpetright as we work through our restructuring plan. I am pleased to report that this activity is firmly on track and has started to yield benefits as we create a right-sized and well-located portfolio of stores on sustainable rents. We also continue to modernise our existing estate as well as investing in our digital capability,’ Walsh said.

In the six months to 27 October 65 UK stores and two European branches were closed, with six more closures planned by the end of this year.

It said that while like for like sales were down in the second quarter, performance was not as poor as the first when shoppers stayed away amid fears of the chain’s collapse and suppliers withheld stock.