High street furnishing chain Carpetright has issued a profit warning and parted company with its chief executive.
The firm said CEO Darren Shapland will step down from his role with immediate effect, replaced by chairman and founder Philip Harris.
Mr Harris will become full-time executive chairman.
The firm added that as a result of a combination of a softer UK market and a further step down in the Netherlands, it was likely full year profit will be significantly below previous expectations.
In the 10 weeks to September 29 sales at stores open over a year were down 2.5% in the UK and down 7.6% in the Rest of Europe division - made up of the Netherlands, Belgium and Ireland.
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