A SECOND profit warning has been issued by national retailer Carpetright as New Look and Prezzo consider closures.

Carpetright, which has stores at Clifton Moor and Layerthorpe, saw its shares fall by almost a quarter in value after bosses revealed they had started talks with lenders to ensure it does not breach the terms of its bank loans in light of expected full year loses.

Also struggling on the high street are fashion retailer New Look, which has stores in Parliament Street, Blake Street and Monks Cross, and restaurant chain Prezzo, which has branches at Vangarde and Clifford Street.

The parent companies for both brands are said to be considering Company Voluntary Arrangements, which will include store closures, to ensure creditors are repaid.