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Allied Carpets goes into administration

Allied Carpets has succumbed to the recession, entering administration today although 51 of its 217 stores, together with the insurance business, have been sold immediately. The move will safeguard 400 jobs although the remaining stores have a very uncertain future. The administrator, BDO Stoy Hayward, has confirmed that the stores will continue to operate as normal for the moment and all outstanding standing customer orders will be fulfilled.

While the remaining stores continue to trade, BDO Stoy Hayward is looking for a trade buyer to take on the business and save as many jobs as possible. This is not the first major casualty in the carpets and furnishings sector as the recession has seen a significant fall in home improvement spending. The serious lull in the housing market has also impacted on general trade and with no immediate upturn in the housing market expected this may well have been one of the main factors behind today's announcement.

When you consider that Allied Carpets is the second largest carpet supplier in the UK, behind Carpetright, this is perhaps one of the starkest remainders of the impact of the global economic downturn. Unfortunately Allied Carpets is unlikely to be the last major casualty of the recession even if an upturn were to emerge tomorrow.

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