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Carpetright is floored by family who ran it for 75 years
Profits at Carpetright have been floored as the company admitted it is struggling to compete with a rival retailer set up by its founder's son.
One of Britain's biggest flooring retailers, the company has been hammered since the launch of Tapi, which is run by Martin Harris who was with Carpetright for 23 years.
Harris is the son of the retailer's founder Lord Harris of Peckham, 76, who stepped down in 2014.
Martin Harris ,who was with Carpetright for 23 years, is the son of the retailer's founder Lord Harris of Peckham, 76, who stepped down in 2014
Carpetright's latest results revealed its profits were all but wiped out in the 26 weeks to October 28, plummeting by 93 per cent to just £300,000.
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Wilf Walsh, chief executive, rumah sederhana cantik said: 'The first half has undoubtedly been challenging. Consumer confidence remains fragile and we continue to manage the impact of intensified competition.'
The Harris family built the Carpetright empire after Lord Harris was forced to take over his family's flooring business at the age of 15 when his father died.
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