Carpetright has reported a narrower loss for the past year, a period during which the retailer underwent a major restructuring as it sought to cut costs. Carpetright has cut down the number of stores it operates through a Company Voluntary Arrangement (CVA) which took place last year.
Carpetright said it was on track to deliver £19m of savings a year as part of the CVA. Losses for the year to 27 April were £24.8m, compared with a loss of £69.8m in the previous year.
While sales fell in the first half of the company's financial year, business has improved since then. In the first eight weeks of the new financial year, UK like-for-like sales were up 8.5%.
