This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8156111.stm
The article has changed 7 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Allied Carpets in administration | Allied Carpets in administration |
| (10 minutes later) | |
| Allied Carpets has gone into administration, as the stagnating housing market led to a fall in demand for carpets and flooring. | Allied Carpets has gone into administration, as the stagnating housing market led to a fall in demand for carpets and flooring. |
| But 51 of its 217 stores and its insurance business have been sold immediately, saving 400 jobs, administrator BDO Stoy Hayward said. | But 51 of its 217 stores and its insurance business have been sold immediately, saving 400 jobs, administrator BDO Stoy Hayward said. |
| All stores are trading normally and outstanding customer orders will be fulfilled in all stores, it said. | All stores are trading normally and outstanding customer orders will be fulfilled in all stores, it said. |
| Deposits are safe but anyone with queries should contact a local store. | Deposits are safe but anyone with queries should contact a local store. |
| All staff wages will be paid on the normal payment dates, the administrators said. About 1,100 staff work in the stores that have gone into administration. | |
| Dermot Power, business restructuring partner at BDO, said that, like many companies, Allied Carpets had suffered in difficult trading conditions. | Dermot Power, business restructuring partner at BDO, said that, like many companies, Allied Carpets had suffered in difficult trading conditions. |
| "The stagnation of the housing market has meant that fewer people are buying carpets and flooring," he said. | "The stagnation of the housing market has meant that fewer people are buying carpets and flooring," he said. |
| "We are currently working to secure a going-concern sale of the remaining stores in the Allied Carpets portfolio." | "We are currently working to secure a going-concern sale of the remaining stores in the Allied Carpets portfolio." |