Carpetright to close Telford store but keep Oswestry and Shrewsbury open
Telford's Carpetright store is among the 92 earmarked for closure as the chain announced it is set to axe 300 jobs.
But under the sweeping restructure, the stores in Shrewsbury and Oswestry are due to stay open.
The chain said that, overall, 92 sites had been earmarked for closure, although 11 have already stopped trading, with the rent on another 113 set to be slashed under the company voluntary arrangement (CVA) proposals being put to landlords.
It said it hopes to relocate staff where possible.
The group – which employs nearly 2,700 staff in total – also confirmed an investor cash-call to raise around £60 million through a rights issue to put the company on a firmer financial footing.
The details came as it revealed a "technical breach" of its banking arrangements, but the group said it was taking action to address this and ensure it is amended for the future.
