Recession floors Barnstaple carpet store
A BARNSTAPLE carpet store closed on Thursday with the loss of five jobs. Allied Carpets, in the Barnstaple Retail Park at Seven Brethren, is one of 142 stores to close around the country with the loss of 850 jobs after its parent company went into admini
A BARNSTAPLE carpet store closed on Thursday with the loss of five jobs.
Allied Carpets, in the Barnstaple Retail Park at Seven Brethren, is one of 142 stores to close around the country with the loss of 850 jobs after its parent company went into administration last month.
Branches at Bristol, Bath, Bridgwater, Exeter, Gloucester, Taunton, Torquay and Truro have also closed after administrators BDO Stoy Hayward failed to find a buyer for the troubled brand.
BDO blamed the lack of interest in the portfolio on the current economic climate and the stagnation of the housing market but said it was still in negotiations with a number of interested parties.
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"Although the stores are closed, we are also continuing to discuss a change of use acquisition as well as options with some single site acquirers," said Dermot Power, BDO business restructuring partner.
"Although we have had a strong level of initial interest in the portfolio, the common concern has been around the lack of visibility of future turnover. In addition, many of those who operate in the same industry haven't been comfortable taking the step to extend their current portfolio in such a tough trading climate."
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Administrators said it continued to fulfil outstanding customer orders.
Mr Power added: "We remain confident that all outstanding orders will be fulfilled. Upon appointment there were approximately 21,000 pieces of unfulfilled business for which deposits had been taken. We have completed almost 16,000 of these to date."
Customers who have any questions about purchases should e-mail the administrators at email@example.com or call 0161 8177585.