Embattled retailer Carpetright announced plans for a £60m placing and open offer on Friday as part of its efforts to turnaround the business.
Ahead of its planned £60m equity placing next week, embattled retailer Carpetright said on Friday that it has agreed a £15m unsecured loan from its biggest shareholder, Meditor.
Beleaguered retailer Carpetright staved off administration on Monday after the majority of its shareholders approved its proposed company voluntary arrangement, but the company warned that trading conditions remain "difficult" and it expects to report a full-year loss of up to £9m.
Flooring retailer Carpetright announced on Thursday that it plans to close at least 92 stores and raise approximately £60m to restructure the business and avoid going into administration.
Shares in Mothercare rallied on Wednesday as the baby and toddler chain got some much-needed breathing space after its lenders agreed to defer the testing of its financial covenants due on 24 March.
Floor coverings retailer Carpetright said on Wednesday that it has secured an emergency loan from one of its biggest shareholders as it announced a cash call and said it is looking at a company voluntary arrangement to cut rents and close stores.
Carpetright shares tumbled on Monday following a report over the weekend that the company is preparing to close stores and cut jobs in a bid to avert administration.
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British floor coverings retailer Carpetright warned investors on Thursday that trading conditions had remained difficult since its last update on 19 January, with ongoing weak consumer confidence forcing the group to examine a variety of other options to strengthen its balance sheet.
RBC Capital Markets upgraded PageGroup to 'outperform' from 'sector perform' and lifted its price target on the shares from from 490p to 640p, saying it "looks the best staffing play at this point".
Deutsche Bank has taken an axe to its price target for Carpetright following the flooring specialist's profit warning on Friday.
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Shares in flooring and beds specialist Carpetright plunged on Friday as the company issued another profits warning and reported trading in its important post-Christmas period "significantly behind expectations".
In the Sunday Times' 'Inside the City' column this week, Ben Laurence was focussing on carpet retailer Carpetright, which delivered "lacklustre" interim results last week.
Shares in Carpetright slid on Tuesday after the floor coverings specialist said it expects underlying pre-tax profits for the full year to be towards the bottom end of the current range of market expectations, as it reported a drop in first-half profit and highlighted "fragile" consumer confidence.
Carpetright said on Tuesday that it expects profitability in the first half to be below the previous year, but remains confident of a stronger performance in the second half.
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Carpetright reported a slump in full-year profit as it took a hit from the weaker pound and the revamp of its stores.
Specialist carpet and floor coverings retailer Carpetright said on Tuesday that its full-year profit is expected to be towards the lower end of the current range of market expectations for underlying pre-tax profit of £13.9m to £16.2m.
Carpetright posted a 42% slump in pre-tax profit for the 26 weeks ended 29 October as revenue fell amid uneven consumer demand and as the company took a hit from the weakening of the pound versus the euro.