Popular now
Debenhams sublets US warehouse to cut costs

Debenhams sublets US warehouse to cut costs

Virgin Wines downgrades profit forecast as inflation hits margins

Virgin Wines downgrades profit forecast as inflation hits margins

Whole Foods Market opens new grocery store in St James

Whole Foods Market opens new grocery store in St James

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 Phil James, founder and Creative Director of the contemporary heritage clothing brand &SONS. Phil began his career behind the lens as a commercial advertising photographer, working with global brands to hone a distinct visual language. But in 2016, he decided to step out from behind the camera to build a brand of his own.

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