£3m gap in retailer bills raises questions over Carpetright debts

Questions over the accuracy of the information Carpetright creditors have been given – and how much money they may recover – have emerged.

The Statement of Affairs for the chain showed that Carpetright owed almost £3.5m to other retailers in outstanding rent and charges.

However, the Notice of Administrator’s Proposals compiled by administrator PwC showed this debt to be £93,915.40.

The SoA shows that DFS was owed £1,561,934 while the PwC proposals gives this as £24,737.50. The huge variations continue for the other named retailers: Wickes £896,976 (£13,775); B&M £384,626 (£13,780.20); Furniture Village £323,668 (£0); Bensons for Beds £167,604 (£0); Lidl £102,092 (£0); Asda £24,454 (£12,348); Hafren £20,393 (£7,089.20); Barkers £18,400 (£0); B&Q £15,000 (£15,685.50) and Marks & Spencer £11,734 (£6,500).

‘We simply don’t recognise the figures and have asked for answers,’ says a property source at one of the retailers, who says the figure given in the NoAP was far more in keeping with what he understood the position to be.

PwC declined to comment.

However, an accountancy source says the preparation of the NoAP has to take place within seven days of an administrator’s appointment where there has been a pre-pack administration – in the case of Carpetright – and directors usually have longer to prepare the SoA. The 45-page SoA  – in which PwC was not involved – was signed by Peter Charles, described as a consultant and director of Carpetright from 20 March-30 July on 14 August but not made public until September. The NoAP was completed by 29 July and mde public just over two weeks later.

Subscribe

And receive a glossy copy of our magazine straight to your door