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August 14, 2009    

Allied Carpets closes 142 stores and axes 850 jobs

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by Kay Murchie
”Allied

Allied Carpets, the flooring specialist, has been forced to close 142 of its stores and axe 850 jobs.

The struggling retailer was placed into administration last month as the property market crash and economic downturn meant fewer people are buying carpets and flooring. It is the second largest carpet retailer in the UK, behind Carpetright.

BDO Stoy Hayward, which was appointed as administrator to Allied Carpets, said it had failed to find a buyer for the entire business.

A further 120 jobs are still at risk as BDO works to sell off the 20 remaining outlets.

Dermot Power, restructuring partner at BDO said: “Although we have had a strong level of initial interest in the portfolio, the common concern has been around the lack of visibility of future turnover.

“Many of those who operate in the same industry haven’t been comfortable taking the step to extend their current portfolio in such a tough trading climate,” added Mr Power.

Last month, BDO saved around 400 jobs when it sold 51 of Allied Carpets 217 stores and its insurance inspection business to Allied Carpets Retail Ltd - a new vehicle set up by the retailer’s previous management and owners Valco Capital Partners.

BDO hopes to offload more stores to the company over the next few weeks but has pointed out that outstanding customer orders will be fulfilled.

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