Floors-2-Go was a wood flooring retailer in the United Kingdom, established in 1999. The company’s affiliates took over Allied Carpets in April 2012 in a pre pack administration deal.[1]
| Company type | Retail |
|---|---|
| Industry | Retail trade |
| Founded | January 1999 |
| Defunct | January 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 |
History edit
Floors-2-Go was founded in January 1999 as a family business, with the first store opening in Birmingham. The firm floated in April 2004 on the London Stock Exchange. This saw the firm evolving from cash-and-carry (wholesale) type warehouses to retail superstores.[2]
Floors-2-Go opened its first stores in Northern Ireland in August 2005.[3] Later that year, the company announced plans to expand to around 350 stores.[4]
The company was then bought for £52.4 million in December 2006 to its directors and private equity firm Alchemy Partners.[5] The sale was completed in February 2007.[6]
During the sale, the firm applied for the cancellation of trading on the London Stock Exchange, this effect took place in January 2007.[7] Floors-2-Go made pre tax profits of £764,538 throughout 2009, with sales totalling almost £34 million.[8]
Administration edit
In July 2008, the firm entered administration for the first time, with its business hit by a slump in the housing market.[9] The administrators, Kroll immediately closed 41 of the group’s stores, which numbered 132 at the time. This resulted in 97 redundancies from a workforce of around 450 staff.[10]
The firm was saved but entered administration in August 2011 for the second time. Senate Recovery, the administrators, closed a further 53 stores, but retained 35.[11]
In July 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...[12] However, the business re entered administration the following year, this time with a jail threat to the brothers who owned the chain.[13]
The company was eventually dissolved in January 2017.[14]
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.
- ^ "2FG Limited: Offer for Floors 2 Go plc". investegate.co.uk. 13 December 2006. Retrieved 9 April 2022.
- ^ "Floors 2 Go in £54.2m buyout". Manchester Evening News. 15 February 2007. Retrieved 2 May 2015.
- ^ "Cancellation of Admission". www.investegate.co.uk. 3 January 2007. Retrieved 10 October 2019.
- ^ MBS GROUP, THE (26 August 2011). "Floors-2-Go Collapses Into Administration". thembsgroup.co.uk. Retrieved 25 June 2020.
- ^ "Flooring chain calls in administrators". theguardian.com. The Guradian. 23 July 2008. Retrieved 10 October 2019.
- ^ "Floors-2-Go calls in administrators". shropshirestar.com. 23 July 2008. Retrieved 9 June 2024.
- ^ "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
