Carpetright Share Discussion Threads

[mcfrm] 30/4/2018 16:22

So from 28th Oct 17 profit will be £15m
Then Dec £2m-£6m profit.
Turn of the year - a £4m loss.
Now going to be £9m loss.
What will be the actual amount come June?

[loganair] 30/4/2018 14:25

Carpetright warns losses will be double those previously forecast:

UK’s biggest carpet chain expects to make pretax loss of £7m to £9m for year to end of April.

Britain’s biggest carpet retailer now expects to make an underlying pretax loss of £7m to £9m for the year to the end of April, up from £4m forecast a month ago. At the start of this year the City had pencilled in profits of £13m. It is the fourth profit warning in five months.

Like-for-like sales slumped 10.5% in the past three months.

The retailer said it hoped to secure interim funding of up to £15m from its banks and expected to launch an equity fundraising on 18 May.

[loganair] 29/4/2018 21:07

Struggling retail chain Carpetright is sitting on £19 million of unfulfilled customer orders as it presses ahead with a refinancing. (All those deposits that customers may never can back if Carpetright goes completely bust)

Tomorrow it faces a shareholder vote on the plan and next month it will ask investors for up to £60 million as it battles to fend off rival stores.

Carpetright has complained that new rival Tapi, run by the son of its founder Lord Harris, has made business more difficult. (Not fair is it, competition that can run their company better than you can)

The company has more than 42,000 customer orders on its books – worth an average of £444 each.

[only who?] 27/4/2018 15:20

3p is hardly a recovery

[ny boy] 27/4/2018 13:12

Nice recovery, wonder where the placing will come out at?

[loganair] 27/4/2018 12:04

If Carpetright are going to raise £60mln will mean they will mean any rights issue will need to be on the basis of at least 2 new shares for every one share held.

Will most probably have to be at a good discount so could see 2 1/2 or 3 new shares for every share already held.

[loganair] 27/4/2018 12:01

Carpetright expects to launch an equity capital raise in mid-May.

Wilf Walsh, chief executive of Carpetright, said: "Addressing our legacy property issues to reduce our fixed costs to sustainable levels is critical to securing Carpetright's recovery."

"Receipt of creditor approval for the CVA proposal will enable us to take tough but necessary action to establish a right-sized estate of stores on economic rents, which is essential to restoring our profitability.

"Our focus now shifts to the forthcoming shareholder vote and to our preparations for the proposed equity financing which will recapitalise the business and enable Carpetright to address the competitive threat from a position of strength."

[djfrankie2] 27/4/2018 09:09

Better than yesterday but still a very speculative buy always worries me when you see 100,000 sold even after what is supposed to be good news my view this will go pop by year end.

[chinese investor] 27/4/2018 08:57

All Looking Good !

[only who?] 27/4/2018 07:30

Wilf on Raio 4: 'I haven't a clue'

[loganair] 26/4/2018 20:32

Carpetright has earmarked 81 sites for closure, having already seen 11 stop trading. Rent on another 113 stores will also be cut in the restructuring.

[ny boy] 26/4/2018 14:53

Any value down here, just having a look into these, not holding, just looking so far.

[clocktower] 24/4/2018 10:46

Making the headlines as well as RNS:

[meijiman] 21/4/2018 08:07

Useless Wilf will be on the gravy train till it crashes into the buffers at 100mph

[loganair] 20/4/2018 15:00

Chief executive Wilf Walsh insists firm will not become another Toys R Us.

Wilf Walsh said that if the CVA proved successful, Carpetright would attempt to raise £60m through an equity capital raising to invest in its remaining stores and fund completion of its refurbishment programme, which currently covers 55% of its stores.

[only who?] 17/4/2018 15:37

Maybe someone should send Wilf a calculator? Or possibly an abacus is more his thing.

[loganair] 17/4/2018 13:09

Toys R Us first filed for a CVA, then when they realized there was no hope, filed for full bankruptcy - still may happen with Carpetright.

[butterflycollector] 17/4/2018 12:14

So, CVA booklet shows debt at £252.000.000
Assets under half of that, major amounts owed to suppliers and Fitters, cash flow stagnant and rumours that they may not fulfil next wage bill

[only who?] 17/4/2018 08:05

Still waiting for the fake news spike.

[meijiman] 14/4/2018 22:36

Wilf is a clueless clown and the vultures know it..