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Trading in shares of United Carpets suspended

TRADING in shares in United Carpets was suspended today.

The company announced it had closed six stores with a further eight set to close in the coming weeks. Further closures may follow depending on negotiations with landlords.

The Rotherham-based group also confirmed 17 franchised stores have been returned to the group or refranchised.

United Carpets has taken the decision to push back the next publication of its financial results to the end of September so it can present a "truly representative picture of the group's ongoing operations".

Moving the date means it will not meet the AIM market's rules on publishing its results for the year to the end of March by the end of September leading to the suspension of its shares.

United Carpets last month announced a review of its operations in the face of ongoing tough trading conditions.

Source : James Reed –, Yorkshire

24 August 2012
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