Popular now
ProCook revenue hits record £85.5m following store expansion

ProCook revenue hits record £85.5m following store expansion

Why your retail supply chain is weaker than you think

Why your retail supply chain is weaker than you think

ASA sanctions fashion brands over ‘recycled’ clothing claims

ASA sanctions fashion brands over ‘recycled’ clothing claims

Carpetright owner takes £11m hit from The Floor Room administration

Carpetright owner takes £11m hit from The Floor Room administration

On this episode of Talking Shop, we are joined by Nikki Baird, Vice President of Strategy and Product at Aptos. Nikki has spent decades separating technology hype from real-world consumer behavior. Today, we delve into the emergence of the "dark funnel" and how LLMs like ChatGPT are disrupting traditional retail search pipelines, breaking retail media networks, and forcing retailers to their re-evaluate product landing page.

Register to get free articles

No spam Unsubscribe anytime

Want unlimited access? View Plans

Already have an account? Sign in

Figures from Companies House show that Carpetright owner Nestware has taken a £10.8m hit as a result of the closure of The Floor Room.

Nestware put the company into administration at the start of August, resulting in 201 job losses.

The Floor Room was the sole provider of flooring and related products in all John Lewis department stores since May 2023 and operated one standalone London store.

At the time of administration The Floor Room had an intercompany loan balance of £10.8m.

Alongside this, Nestware also had to write off £175.4m related to Carpetright, which it put into administration in late July.

The sum, which included a £120m revolving credit facility and £54.7m in loans, has been deemed “irrecoverable”.

Carpetright owed at least 11 retail businesses nearly £3.5m in outstanding rent charges and some 21,000 customers £8m in outstanding orders.

Previous Post
Sainsbury’s to recruit 20,000 staff ahead of festive season

Sainsbury’s to recruit 20,000 staff ahead of festive season

Next Post
Weird Fish improves profitability in FY23

Weird Fish improves profitability in FY23