Carpetright announces plans to axe 10 Yorkshire stores
'‹Retailer Carpetright has '‹announced plans to close 10 stores in Yorkshire as part of a restructuring plan that could '‹involve the loss of around 300 jobs and 92 store closures around the UK.
The affected Yorkshire stores are Barnsley, Harrogate, Huddersfield, Leeds - Birstall, Leeds - Hunslet, Scarborough, Sheffield - Meadowhall, Wakefield - Cathedral, Wakefield- Westgate and York - Foss Island.
The group said of the 92 stores being offloaded, 11 have already stopped trading.
Carpetright added that the rent will be slashed on another 113 under-performing stores as part of the rescue deal.
The company said it hopes to relocate impacted staff where possible.
The group, which employs nearly 2,700 staff overall, also confirmed an investor cash-call to raise around £60m through a rights issue to put the firm on a firmer financial footing.
The details came as it revealed a technical breach of its banking arrangements, but the group said it was taking action to address this and ensure it is amended for the future.
Wilf Walsh, chief executive of Carpetright, said: "These tough but necessary actions will enable us to address the burden of a legacy UK property estate consisting of too many poorly located stores on unsustainable rents, and are essential if we are to restore our profitability and deliver a successful turnaround.
"We will remain in close contact with all colleagues to keep them fully informed as we move through this process."