TOWN stores are at risk of closure due to a proposed company restructure.

Carpetright is drawing restructuring plans which will close stores and look to investors for up to £60 million.

The retailer, which has stores on Berse Road in Wrexham town centre, and at Flint Retail Park, has not confirmed which ones are at risk but the restructure is expected to focus on those which are performing poorly.

Carpetright chief executive Wilf Walsh said it would be "business as usual" for the flooring firm's stores during Easter and it would remain in "close contact" with staff over its restructuring plans.

He said: "I am pleased that we have secured this additional support from one of our major shareholders as we continue to explore the feasibility of a CVA and a conditional equity issue.

"These further cash resources will enable us to make the necessary decisions free from short-term funding pressure.

"The aggressive store opening strategy pursued by the company's previous leadership has left Carpetright burdened with an oversized property estate consisting of too many poorly located stores on rents which are simply unsustainable."

Mr Walsh added: "The company has worked hard over recent years to address this legacy issue and reduce the size of its property estate. However, many of these poor performing stores still have long leases to run, which has limited our ability to exit a meaningful number in the short to medium term.

"While the board is confident that its brand investment and store refurbishment strategies have been, and will continue to be, successful in enabling Carpetright to respond to increased competition, it believes additional measures are necessary to directly address this legacy property issue."