1,100 Allied Carpet jobs are at risk; RECESSION.ALLIED Carpets plunged into administration yesterday, threatening over 1,000 jobs. Administrators said they had sold 51 of the 217 stores as well as its insurance arm, protecting around 400 jobs. But the remaining 166 stores employing 1,100 people are in the hands of administrator BDO Stoy Hayward BDO Stoy Hayward LLP is a partnership of chartered accountants in the United Kingdom. It is the UK member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. . Allied Carpets, which had about 1,500 workers, has suffered due to stalled spending and the slowdown in house sales. Customer deposits are protected and outstanding orders will be fulfilled ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. . Dermot Power, of BDO Stoy Hayward, said: "The stagnation Stagnation A period of little or no growth in the economy. Economic growth of less than 2-3% is considered stagnation. Sometimes used to describe low trading volume or inactive trading in securities. Notes: A good example of stagnation was the U.S. economy in the 1970s. of the housing market has meant that fewer people are buying carpets and flooring." The 51 saved stores were bought by new company Allied Carpets Retail Ltd. |
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