Carpetright on the verge of administration

Troubled British retailer Carpetright is reportedly on the verge of going into administration, which would put at risk the jobs of some 1,800 employees.

It has around 10 days to secure sufficient financial support to secure the future of its 272 stores across the UK.

Whilst it continues to operate, the company will no longer give cash refunds, but would instead give customers alternative products.

If it proceeds into administration it will go under the supervision of PwC.