Administrators for Floors-2-Go have sold 80 of the flooring retailers 132
stores back to the founders of the business.
Kroll partner Fraser Guy said: ‘In what has been a turbulent period for
retailers, this sale represents the best possible outcome for creditors and is a
tremendous result for the business, its staff, customers and suppliers. The
purchasers have a history in the retail flooring sector and a passion for this
Kroll closed 41 stores last month and shut the remaining 11 over the weekend,
The company went under as a result of the collapsing housing and home
improvement market. Floors-2-go was bought in a management buy-out in December
2006, backed by Jon Moulton’s private equity group Alchemy Partners.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies