Allied Carpets in administration (From Watford Observer)

Allied Carpets in administration

8:30am Saturday 18th July 2009 in

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Allied Carpets has gone into administration, but 51 of its stores, including its Watford branch, have been sold saving a total of 400 jobs.

BDO Hayward, the administrator to the carpet retailer, said the store in Colne Valley Retail Park in Watford was among those that had been saved.

However, the future of the retailer's remaining 166 UK stores and 1,100 jobs hang in the balance.

Dermot Power, business restructuring partner at BDO, said that, like many companies, Allied Carpets had suffered in difficult trading conditions.

Mr Power said:“The stagnation of the housing market has meant that fewer people are buying carpets and flooring. We’re pleased to have safeguarded the future of 51 stores and more than 400 jobs.

"We are currently working to secure a going concern sale of the remaining stores in the Allied Carpets portfolio. Customers who have any questions about purchases should contact their local store.”

Customer deposits are safeguarded and outstanding orders, including inspections, will continue to be fulfilled from all stores.

Clive Hutchings, CEO at Allied Carpets Retail Limited and Allied Carpets Inspections Limited, added: "I am pleased that we have secured the future of the Allied Carpets brand through this sale and have the working capital to provide continuity and security for our customers and a significant proportion of staff."