Landlords

We are currently in the process of writing to all landlords by post regarding the ongoing status of their property. If you have not received any correspondence by 1 August 2024, please contact uk_carpetright_property@pwc.com

Frequently asked questions for landlords

What is happening with my property?

You should receive a letter from us to tell you either that the Company is continuing to trade from your property, or alternatively that the Company is no longer occupying your property and it is being handed back to you. If the Company is continuing to trade from your property the Administrators’ staff will be in contact with you within 10 days of appointment.  If you have not received a letter by 1 August 2024, please email us at uk_carpetright_property@pwc.com

Please note that we will endeavor to reply to any emails to this inbox within five working days, however due to high volumes of emails being received, it may take slightly longer.

Please be advised that any requests for property inspections will also take an additional 72 hours to arrange.

In the following sections, you will find frequently asked questions depending on the status of your property.

How long do you expect the administration process to last?

Unfortunately, our team cannot provide any further information relating to how long the administration process will continue as the process is complex and there are a lot of factors to be considered.

For what period will I continue to get paid?

If you have been advised that the Company is continuing to occupy the property for the trading period, rent will be paid from the date of appointment until the business no longer occupies the property. Payments will be made monthly in arrears until this point.

When am I going to get paid?

If you have been advised that the Company is continuing to occupy the property for the trading period, you will be paid monthly in arrears as long as you have submitted an invoice before 1st of each month.  If you charge VAT, this must be a valid VAT invoice and not an application for payment.  We will endeavour to make payments within a certain period after the end of the month.  Please note that insolvency case law states that rent accrues daily in arrears and therefore there is no legal obligation to pay rent in advance or in line with previous contractual terms.

What requirements are there for invoices to be processed?

If you have been advised that the Company is continuing to occupy the property for the trading period, please provide invoices as set out in the initial landlord letter. The requirements are:

• - If you charge VAT on rent and other charges, a VAT invoice addressed to the relevant company, including ‘in administration’, for the applicable monthly period, for example, for 22 - 31 July 2024  for month one, 1 - 30 August 2024 for month two.

• - If you do not charge VAT on rent, we still need you to provide us with an invoice, showing the amount being charged for the relevant month, and what it is for (e.g. rent, service charge).

• - Confirmation of bank account details have been provided on headed paper (unless shown on the invoice).

• - Invoices show the Net, VAT (if applicable) and Gross amounts.

• - Invoices should show the split of rent, service charge, insurance and utilities (if applicable and if not provided as separate invoices).

Do you accept applications for payment?

No, if you are charging VAT, all requests for payment must be in the form of a valid VAT invoice in order to be processed for payment.

Timeframe for payment of unsecured claims

At this early stage, we do not know whether there will be funds available to make a distribution to unsecured creditors as this will depend on the final level of asset realisations and level of preferential claims received.  Any distribution to unsecured creditors will only be via the prescribed part and is not expected to be more than 1p in the £.  

Once we have more information on dividend prospects, we will update the FAQs on our website and if we think there will be funds available to pay a dividend to unsecured creditors in due course, we will write to all creditors to set out how to make a claim.  You do not need to take any action at this stage with regard to submitting a claim to the Administrators.

Please refer to the Creditors section of the PwC website for any additional information.

What happens if I’m owed amounts from before the administration (including service charge, utilities etc.)?

If there are rental arrears for the period of occupation before the date of our appointment on 22 July 2024, these will be an unsecured claim in the administration and creditors should submit a claim in the administration of the company which held the lease. Once we have more information on dividend prospects, we will update these FAQs and if we think there will be funds available to pay a dividend to unsecured creditors in due course, we will write to you to tell you to make a claim. You do not need to take any action at this stage.