Carpetright has swung to a loss in its 2017-18 year, just weeks after it launched a CVA that will lead to the closure of 81 stores by September in order to stay afloat. The embattled flooring retailer recorded an underlying loss before tax of £8.7 million for the year to April 28, having made profit of £14.4 million the year before and in line with its latest guidance. READ MORE: Carpetright secures £60m equity raise for CVA Carpetright expects £9m loss as its CVA wins shareholder approval Carpetright CVA approved by creditors jeopardising 300 jobs But after taking into account the costs of the CVA deal, Carpetight plunged to a loss before tax of £70.5 million.
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Carpetright plunges to £70.5m loss as it powers on with CVA