Floors-2-Go
| Company type | Retail |
|---|---|
| Industry | Retail trade |
| Founded | 1999 |
| Defunct | 2017 |
| Fate | Liquidation |
| Headquarters | , |
Number of locations | 30 (2015) |
Area served | United Kingdom Northern Ireland |
Key people | Robert Hodges Richard Hodges |
| Products | Flooring |
| Website | www |
Floors-2-Go was a wood flooring retailer in the United Kingdom, established in 1999. In 2012, the company's affiliates took over Allied Carpets in a pre-pack administration deal.[1]
History
[edit]
Floors-2-Go was founded in 1999 as a family business, with the first store opening in Birmingham. In 2004, the firm floated on the London Stock Exchange. This saw the firm evolving from cash-and-carry (wholesale)-type warehouses to retail superstores.[2]
In 2005, Floors-2-Go opened its first stores in Northern Ireland.[3] Later that year, the company announced plans to expand to around 350 stores.[4]
In 2007, Floors-2-Go was sold for £52.4 million to its directors and private equity firm Alchemy Partners, at which point it ceased trading on the London Stock Exchange.[5]
Administration
[edit]In 2008, the firm entered administration for the first time, with its business hit by a slump in the housing market.[6] The administrators, Kroll immediately closed 41 of the group's 132 stores, resulting in 97 redundancies from a workforce of around 450 [citation needed].
The firm was saved but entered administration for a second time in 2011. Senate Recovery, the administrators, closed a further 53 stores, but retained 35.[7]
In 2014, the business entered administration for the third time. MB Insolvency were appointed administrators, and made a further reduction in the number of stores and staff...[8] However, the business re-entered administration the following year, this time with a jail threat to the brothers who owned the chain.[9]
The company was eventually dissolved in 2017.[10]
References
[edit]- ^ "Floors-2-Go affiliate buys Allied Carpets". Financial Times. 23 April 2012. Retrieved 1 May 2015.
- ^ "First Day of Dealings". Financial Times. 1 April 2004. Retrieved 10 October 2019.
- ^ "Floors-2-Go lands in Northern Ireland". Retail Week. 9 September 2005. Retrieved 10 October 2019.
- ^ "Floors-2-Go expansion on target for 350 stores". business.highbeam.com. 4 November 2005. Archived from the original on 12 March 2016. Retrieved 10 October 2019.
- ^ "Floors 2 Go in £54.2m buyout". Manchester Evening News. 15 February 2007. Retrieved 2 May 2015.
- ^ "Flooring chain calls in administrators". TheGuardian.com. 23 July 2008. Retrieved 10 October 2019.
- ^ "Floors-2-Go jobs saved after administration". The Telegraph. 26 August 2011. Retrieved 10 October 2019.
- ^ "Floors-2-Go in administration for the third time". The Journal. 16 July 2014. Archived from the original on 25 July 2014. Retrieved 10 October 2019.
- ^ "Floors-2-Go brothers face threat of jail". BM Magazine. 9 November 2015. Retrieved 7 November 2016.
- ^ "Floors 2 Go Limited". Companies House. Retrieved 22 February 2019.
External links
[edit]
- 1999 establishments in the United Kingdom
- Companies that have entered administration in the United Kingdom
- Companies formerly listed on the London Stock Exchange
- Carpet retailers of the United Kingdom
- Defunct retail companies of the United Kingdom
- Retail companies established in 1999
- Retail companies disestablished in 2017