Troubled UK retailer Carpetright to raise capital, sell stake to key investor

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March 21 (Reuters) – British retailer Carpetright has agreed a loan with a shareholder in exchange for new shares to fund the short term running of the company, and may raise a further 60 million pounds ($84.15 million) to strengthen its balance sheet, it said on Wednesday.

Carpetright, which has issued a series of profit-warnings because of tepid high-street spending, said it would also look to reduce its property portfolio. It has agreed the loan with shareholder Meditor. ($1 = 0.7130 pounds) (Reporting by Elisabeth O’Leary; Editing by Kate Holton)

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