Crisis-hit Carpetright said its finances had been hit by "adverse publicity" and stock shortages as it unveiled a hefty £70m annual loss.
Britain’s biggest flooring retailer, which is in the process of shutting dozens of stores as part of a controversial insolvency process, said it had fallen into the red after racking up £49m of one-off charges relating to its restructuring.
Revenues slumped 3pc to £444m and in the UK fell 3.6pc on a like-for-like basis, excluding stores that were closed or opened during the year.
Carpetright said the negative attention it had received had caused suppliers to tighten their credit terms. That, combined with the profit shortfall, left it burdened with a net debt...