Carpetright announced that it was going into administration earlier this month after the firm said it had suffered from weaker demand for carpets as homeowners bought more hard flooring.
The firm also suffered a major cyberattack in April which halted trading.
Administration firm PwC was brought in to find a buyer, with rival firm Tapi agreeing to buy 54 Carpetright stores, two warehouses, the brand and its intellectual property in a pre-pack administration deal.
The deal does not include the majority of stores in Wales however, with the firm’s Swansea, Bridgend and Haverfordwest stores all due to close. Only Carpetright’s Carmarthen store will be kept on.
Joint Administrator for PwC, Zelf Hussain said: “Carpetright has fallen victim to challenges facing many retailers, especially those selling big ticket items.
“A mixture of factors, including a big reduction in consumer spending due to cost of living pressures, lower home sales and a debilitating cyber attack made it impossible for the business to continue in its current form.
“The sale of some stores and the brand to Tapi has allowed over 300 jobs to be saved, and gives the Carpetright brand the chance to continue and flourish under its new ownership.
“However, it is deeply saddening that for the remainder of the workforce there will be redundancies.
“We are committed to helping those affected and will make sure redundancy claims are processed as quickly as possible. In collaboration with Tapi, we will assist in efforts to help individuals find new jobs elsewhere.
“We know this is an uncertain time for many of those affected and want to thank all the staff for the support they have given the company in these difficult circumstances.”
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