Yarmouth's Allied Carpets store shuts
Great Yarmouth's Allied Carpets store is among 142 stores around the country to shut after the retail chain failed to attract a buyer.The store in Pasteur Road is the latest victim of the economic slump which has seen a fall in the demand for home furnishings.
Great Yarmouth's Allied Carpets store is among 142 stores around the country to shut after the retail chain failed to attract a buyer.
The store in Pasteur Road is the latest victim of the economic slump which has seen a fall in the demand for home furnishings.
Administrator BDO Stoy Hayward said there had been “initial interest” in the chain but no serious bids.
Allied Carpets went into administration last month, with
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21,000 orders still outstanding.
BDO said it was making good progress finishing the orders, with 16,000 fulfilled so far, and aims to ensure all are completed eventually.
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Former Allied chief executive Clive Hutchings has already bought 55 stores and set up a new firm that could revive the brand.
BDO said it was likely more outlets and jobs would be transferred to the new outfit within the next two weeks.
However, Dermot Power, BDO Stoy Hayward business restructuring partner, 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.
“In addition, 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.”
The Yarmouth store is understood to have closed several weeks ago.
