A cost-cutting plan to close 92 stores will not affect struggling British flooring retailer Carpetright’s shops in the Republic, but it will result in job losses in the North and effectively halve the company’s presence there.

Around 300 jobs are to be axed at Carpetright after the embattled retailer unveiled plans to shut another 81 stores and tap investors for £60m under a sweeping restructure.

Embattled retailer Carpetright has put jobs under threat as it draws up sweeping restructuring plans which will close poorly-performing stores and see it tap investors for up to £60 million.

Floorings firm Carpetright returned to bottom line profit for the first time in three years on the back of a recovery in UK sales and a turnaround at its continental stores.