Beleaguered British floor coverings retailer Carpetright has struck an emergency agreement with its lenders to close or exit leases of at least 92 shops in a restructuring that will affect more than 300 jobs.
Carpetright, which has warned on profits three times since December, said it was entering into a creditors voluntary arrangement, which is a type of restructuring plan designed to keep businesses out of formal insolvency proceedings.
The groups shares fell as much as 24 per cent in early trading in London before recovering to trade 13 per cent lower at 36.5p, as it also announced it would raise £60m of fresh equity to reduce it…
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