Carpetright of London Limited (02774697): administration
- Status
- Administration ended
- Administration began
- 2024-09-10
- Administrators
- Zelf Hussain, Peter David Dickens, Adam Seres
- Administrators' firm
- PwC
- Formerly
- Carpetright Limited; De Facto 294 Limited
- Incorporated
- 1992-12-17
- Location
- Leeds
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Parent or group failure
From the administrators' statement
The Company was incorporated on 17 December 1992 and formed part of the wider Carpetright group and is a non-trading subsidiary of CPR Realisations Limited (formerly Carpetright Limited) which is also now in administration.
The involvement of PwC within the Carpetright group commenced in May 2024 with CPR to provide cashflow forecast monitoring support and comment on potential cash management opportunities. Due to a further decline in the financial position of CPR, PwC was further engaged by the Nestware Group to explore a solvent turnaround plan for CPR and associated activity to provide funding options for that plan. Due to a winding up petition being in the process of being issued by HMRC, the directors of CPR resolved that insolvency was inevitable and a notice of intention to appoint an administrator to that company was filed at Court on 12 July 2024.
Shortly following the administrators’ appointment to CPR, The Floor Room Limited (another company within the Carpetright group) went into administration on 9 August 2024, following the management team exhausting options to secure further funding or a potential sale of the business and assets.
Administrators' statement of proposals (2024-10-28) · Companies House register