IN PICTURES: Peterborough's Carpetright store is saved at 11th hour but some retailers have not been so lucky

Peterborough’s Carpetright store is among 54 nationally to be saved from closure after an eleventh hour sale deal was agreed.

Part of the 36-year-old carpet and flooring retailer, which has a store at the Boulevard Retail Park, Maskew Avenue, has been sold by administrators to CWHP, which is part of the Tapi Group.

The purchase includes the transfer of 308 employees.

A separate agreement was reached for Carpetright’s intellectual property and brand.

The deal was overseen by administrators PWC which stated: “This transaction represents the best option available to generate returns for creditors as a whole, under severely limited timescales.”

It means Carpetright’s other 219 stories will close with 1,018 staff made redundant.

Zelf Hussain, Joint Administrator, 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."

The challenges that overwhelmed Carpetright have impacted the retail offer in Peterborough with many well known stories closing over the years..

Here we take a look back in pictures at some of the retailers that once graced the city and find that change has been taking place over more years than perhaps we care to remember.

The demise of BHS, which occupied two floors in the Queensgate centre, was seen as a blow for the mall’s bosses but its space has been taken up by a number of other retailers.

Other stores to leave the centre include fashion retailer Next and Joules and music store HMV.

Changes in shopping trends are not to blame for all the closures. A financial crisis caused the collapse of travel giant Thomas Cook which left a hole in both the Queensgate and the Serpentine Green Shopping Centre in Hampton.

It is not all gloom. The official confirmation by shopping giant Frasers that it is moving into Peterborough’s Queensgate Shopping Centre is a major boost for the city’s retail heart.