News about Martin Harris

More than 1,500 jobs are set to go at Carpetright after a rescue deal by the founding family saved only part of the company. Flooring group Tapi - which was set up by a member of the Harris family behind Carpetright - has agreed to buy 54 stores as well as the brand, intellectual property and two warehouses.

Martin Harris (pictured top right with his father) dramatically stepped in to save his family's former carpet dynasty from collapsing into administration, with his new company Tapi agreeing to buy some of its struggling competitor's shops. Mr Harris, whose flooring tycoon father Lord (Philip) Harris (left) of Peckham set up Carpetright in 1988, was a former director at the firm before stepping away and setting up rival chain Tapi in 2015. But he was blasted for cutting ties with Carpetright, which is father also left in 2014, with insiders accusing them of pursuing a 'kamikaze strategy to try and take Carpetright down' with Tapi, and poaching staff. Now Tapi has agreed to buy 54 of the ailing chain's 270 stores and two warehouses in a move that will save 300 jobs.

The struggling firm, set up by Peckham 'carpet king' Lord Harris, was on the brink of collapse with about 1,800 jobs in the firing line. But Tapi - which was founded by Lord Harris's son Martin Harris - has now agreed to buy 54 of the ailing chain's 270 stores and two warehouse, saving 300 jobs. However, the deal does not include some 200 other stores which now face the risk of closure, with more than 1,500 staff now at risk of being axed.

More than 1,800 jobs and 272 stores are at risk after the company filed a notice of intention to go into administration at the High Court today with the advisory firm PricewaterhouseCoopers (PwC) lined up. PwC has been working with the company to try and find a buyer to secure more cash which would allow it to keep trading. In the meantime, customers have been expressing their shock after the company announced today it was no longer able to process any refunds - leaving one customer in the lurch for £1,500. But carpet industry experts have explained the uphill struggle Carpetright is now facing, with the popularity of hard floors, the rise in online shopping and the cost of living crisis, all hitting the industry hard.