Carpetright failure leaves Royal Mail, Microsoft owed millions

[TrueBlueTerrier]

https://www.proactiveinvestors.co.uk/co ... 53086.html

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

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.

[TopperGas]

The headline is a bit misleading when we're only owed £300K? Not sure how though given that we hardly deliver their carpets to customers!!

[ted_e_bear]

The headline is a bit misleading when we're only owed £300K? Not sure how though given that we hardly deliver their carpets to customers!!

Wonder if it's payment for d2ds can't remember any round here so just a guess, obviously not a great take up on them if it was, plus 300k sounds a lot maybe they didn't pay the bill for the last 10 years and rm only just noticed.

[Mr Rush]

Any chance of sending the carpetbaggers down with Carpetright?