Allied Carpets on brink of administration
Signals intention to appoint BDO Stoy Hayward
Allied Carpets Properties has filed a notice of intention to appoint an
administrator, understood to be BDO Stoy Hayward,
Retail
Week revealed.
It is unclear whether an administration of the property division would impact
on Allied’s core retailing operations. The business is in private equity hands
after being bought by Sigma Capital in March, a fund backed by Hilco.
Allied Carpets is the UK’s second largest floorings retailer. It is currently
in the final stages of completing debt refinancing and is also undertaking a
strategic review.
Hilco has had exposure to other distressed retailers in the past 12 months.
It tried to buy Woolworths and advised Deloitte during the failed retailer’s
closing down sale. Hilco was also represented on MFI’s board.
Further Reading:
Buyers
line up for chance to pick up Woolworths