June 26, 2018 / 6:19 AM / 3 months ago

UK's Carpetright slumps to full-year loss

LONDON, June 26 (Reuters) - Struggling British floor coverings retailer Carpetright on Tuesday reported a loss for 2017-18 and said underlying sales had continued to fall in its new financial year.

Carpetright has raised new equity and is closing stores to survive after creditors approved a restructuring. It shares have crashed 81 percent over the last year.

The company made an underlying pretax loss of 8.7 million pounds ($11.6 million) in the year to April 28 - in line with its latest guidance and versus a profit of 14.4 million pounds in 2016-17.

It said 81 UK trading stores will close by end of September. ($1 = 0.7528 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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