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Carpetright competitor, Tapi, is reportedly close to striking a deal to acquire the retailer out of administration, according to The Times.
This comes after Carpetright placed its administrators at PwC on standby last Friday (12 July), as it sought “a period of protection” to secure an additional investment.
While the deal could potentially save hundreds of jobs, it is expected to be delivered via a pre-pack administration which could lead to some of its 272-store estate being shuttered.
Tapi was founded in 2014 by Martin Harris – the son of Carpetright founder Lord Harris of Peckham – who is also a shareholder.
It is understood from The Times that Tapi is not looking to acquire Carpetright’s head office in Purfleet, Essex.
Carpetright was officially put up for sale amid increased competition and a slowdown in demand.
Back in April, Carpetright appointed Teneo to look into cost saving measures, and in June, the company revealed that it was looking to get rid of more than a quarter of its head office staff – putting 70 jobs at risk.
Carpetright has been approached for comment.
