Carpetright says it is closing 92 stores and cutting 300 jobs as part of a restructuring plan.

The retailer recently started talks with lenders to ensure it does not breach the terms of its bank loans.

The chain is planning a company voluntary arrangement (CVA) that will allow it to shut the worst-performing stores and ask for rent concessions on another 113 sites.

It is the latest in a long list of businesses to run into trouble.

The company has confirmed it will close its Gloucester store on Eastern Avenue.

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