Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Retail & consumer

Carpetright failure leaves Royal Mail, Microsoft owed millions

Royal Mail and Microsoft Corp (NASDAQ:MSFT) are among those collectively owed £213 million following Carpetright’s collapse, reports say.

The postal service and technology giant could receive less than 1p in the pound on their debts based on administrators’ proposals, according to The Times.

Microsoft was said to be owed £3.1 million, with Royal Mail, Biffa Waste Management and DHL left £372,000, £852,000, £540,000 out of pocket respectively.

Suppliers to the collapsed flooring firm, Betap and Condor, were owed as much as £1.9 million and £1.1 million respectively when the chain failed earlier this month, the report added.

Carpetright has since been bought by rival Tapi following the firm’s announcement that it was set to appoint PwC as administrator.

However, the rescue deal, which included the transfer of the firm’s intellectual property, two warehouses and 54 stores, is said to have left around 1,500 workers facing redundancy.

According to The Times, the retailer’s total liabilities are estimated at £338 million, with some £9 million owed in tax and customers also left awaiting refunds.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK