CPR Realisations Limited (formerly Carpetright Limited)
Zelf Hussain, Rachael Wilkinson and Peter Dickens of PwC were appointed as Joint Administrators of Carpetright Ltd, (“the Company/Carpetright”) on 22 July 2024.
Carpetright is a British retail chain selling carpets, flooring and beds and is a subsidiary of Nestware Holdings Ltd. Founded in 1988, the Company operates across the UK and the Republic of Ireland. Headquartered in Purfleet, Essex, it has 273 stores and 1,898 employees.
The Company has been hit by challenging trading conditions, predominantly due to changing consumer preferences and a drop in home improvement spending post-pandemic. The business was also impacted by a cyber attack in April 2024, which had left it unable to trade for a period of time.
On appointment, the Joint Administrators completed a sale of 54 stores and two logistics hubs to CWHP Ltd., part of the Tapi Group. The transaction includes the transfer of 308 employees. A full list of the sites transferred can be found below. This transaction represents the best option available to generate returns for creditors as a whole, under severely limited timescales.
The remaining stores have been closed with immediate effect, and the Company’s Head Office will be opened for a short time to support in winding down operation before closing down.
Zelf Hussain, Rachael Maria Wilkinson and Peter David Dickens have been appointed as Joint Administrators of CPR Realisations Limited to manage its affairs, business, and property as its agents and act without personal liability. All are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Administrators.
