Britain’s biggest carpets and tiles retailer hit investors with its third profit warning in four months and revealed it was in talks with its lenders, sending its shares to new lows.
Carpetright said it was in discussions with its banks to avoid breaching its debt covenants and was exploring options to fast-track its recovery and to bolster its balance sheet.
The dire update, which sent Carpetright’s shares down by 22.5% to 60¼p, came a day after Toys R Us and Maplin collapsed and underlined the pressures facing the retail sector.
The Telegraph added that the announcement stunned investors, while the Independent said that it may not be the next domino to fall, but nerves are jangling after grim update a day after Toys R Us and Maplin were fallers.
Click here for the full Times article (£)
Click here for the full Telegraph article
