PURFLEET-BASED Carpetright says it is closing 92 stores and cutting 300 jobs as part of a restructuring plan.

The retailer recently started talks with lenders to ensure it does not breach the terms of its bank loans.

The chain is planning a company voluntary arrangement (CVA) that will allow it to shut the worst-performing stores and ask for rent concessions on another 113 sites.

Carpetright, which has more than 400 UK shops, has been struggling with underperforming outlets which have made its rental costs harder to shoulder.

But the store on Howard Way will remain open for now.

There have been similar, recent CVA arrangements at fashion retailer New Look and restaurant chains Jamie’s Italian, Prezzo and Byron.

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