(qlmbusinessnews.com Thurs. 8th Aug, 2024) London, UK —
“Carpetright’s Collapse: Bensons for Beds Steps In, Creating New Job Opportunities”
Furniture retailer Bensons for Beds has acquired 19 stores from Carpetright after the flooring company went into administration in July. Bensons aims to create job opportunities for former Carpetright staff when these locations reopen under its brand.
Carpetright's collapse was precipitated by declining customer demand and a debilitating cyber-attack in April, which hindered its restructuring efforts. Prior to its insolvency, Carpetright employed over 1,800 people and operated 273 stores across the UK.
Following the collapse, rival flooring company Tapi purchased Carpetright's brand, intellectual property, 54 stores, and two warehouses. However, more than 200 stores were closed, resulting in over 1,000 redundancies.
Nick Collard, Bensons' chief executive, emphasised the company’s strategic priority to expand its store count. Bensons plans to increase its number of outlets from 162 to over 200 in the coming years, despite challenging market conditions for high-value furniture sales. Collard noted that Bensons had gained market share and returned to profitability in 2023, attributing this success to the dedication of its employees. The acquisition of Carpetright stores positions Bensons favourably for future market recovery.
Rachael Wilkinson, joint administrator at PwC, expressed satisfaction with the sale agreement, hoping it would generate employment opportunities for former Carpetright workers.
Carpetright, established in 1988, faced difficulties after a cyber-attack in April crippled its online ordering system, compounding existing issues with decreasing consumer demand. In July, Tapi's chief executive expressed sorrow over the inability to save more jobs and customer orders.
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