Tapi has acquired struggling Carpetright and brought 54 of its stores out of administration, but the deal comes with significant job losses.\u00a0<\/p>\n\n\n\n
The acquisition includes Carpetright\u2019s intellectual property, two warehouses<\/a><\/strong>, and 54 stores. <\/p>\n\n\n\n Tapi plans to temporarily close them for a few days to update systems like ordering, telephone lines, and email.\u00a0<\/p>\n\n\n\n This move will preserve 308 jobs within the acquired store.<\/p>\n\n\n\n However, it will also result in 1,018 job losses across Carpetright\u2019s head office in Purfleet and its remaining 218 stores in the UK.<\/p>\n\n\n\n PwC, the administrators handling Carpetright\u2019s affairs, will retain some head office staff briefly to help wind down operations. <\/p>\n\n\n\n The company has faced ongoing financial difficulties, including significant debt and years of losses, making a complete rescue unfeasible. <\/p>\n\n\n\n Tapi\u2019s acquisition was designed to limit market disruption while adhering to Competition and Markets Authority (CMA) guidelines.<\/p>\n\n\n\n Need Career Advice? <\/strong>Get employment skills advice at all levels of your career<\/strong><\/a><\/p>\n\n\n\n Tapi managing director<\/a><\/strong> Jeevan Karir said: \u201cOur goal, initially, was to try to save all of Carpetright. <\/p>\n\n\n\n \u201cHowever, as we looked into the details of the situation, we quickly established that saving the entire business was unviable.<\/p>\n\n\n\n \u201cThe business has been materially loss-making for a number of years, and it has significant debt held by the owner.<\/p>\n\n\n\n \u201cWe then turned ourselves to trying to save a number of stores whilst being mindful of how the Competition authorities would look at any deal. <\/p>\n\n\n\n \u201cSo, we arrived at 54 stores and two supporting warehouses. <\/p>\n\n\n\n \u201cAll of which are exceptional and that we\u2019d be proud to have as part of the Tapi family.\u201d<\/p>\n\n\n\n PwC will work to process redundancy claims quickly and assist affected employees in finding new job opportunities.<\/p>\n\n\n\n Carpetright had sought protection earlier this month as it struggled with heightened competition and reduced demand, leading to PwC’s appointment to find a buyer. <\/p>\n\n\n\n Tapi emerged as the sole bidder offering a viable rescue plan to prevent a complete liquidation.<\/p>\n\n\n\n Follow us on <\/strong>YouTube<\/strong><\/a>, <\/strong>X<\/strong><\/a>, <\/strong>LinkedIn<\/strong><\/a>, and <\/strong>Facebook<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Tapi, Carpetright’s largest competitor, has acquired the struggling chain\u2019s brand and 54 of its stores out of administration, but the deal comes with significant job losses. <\/p>\n","protected":false},"author":5,"featured_media":62927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[415,3],"tags":[],"class_list":["post-62924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-employment-news","category-business-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/62924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/comments?post=62924"}],"version-history":[{"count":0,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/62924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media\/62927"}],"wp:attachment":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media?parent=62924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/categories?post=62924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/tags?post=62924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}