Carpetright has warned its full-year loss will be double those previously expected, as the struggling retailer received backing from creditors and shareholders for a restructuring process designed to stave off administration.
Britains biggest carpet retailer now expects to make an underlying pretax loss of £7m to £9m for the year to the end of April, up from £4m forecast a month ago. At the start of this year the City had pencilled in profits of £13m. It is the fourth profit warning in five months.
Like-for-like sales slumped 10.5% in the past three months. Over the full year, like-for-like sales fell by 3.6%.
Like other retailers, especially those selling home furnishings, Carpetright has been hit by weak consumer confidence and …
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