Shares in Carpetright rose by 75% yesterday after it reported rising sales, suggesting that its restructuring programme was on track.
The company, which sells everything from carpets to artificial grass, said that its overall performance for the 12 weeks to April 20 was in line with expectations. Sales in the UK had improved significantly as “customer confidence in the business started to return”.
Carpetright lost about 90% of its value last year as it negotiated an emergency restructuring deal to close shops and reduce its rents, including raising about £65m from investors to strengthen its finances.
