BusinessBusiness RecoveryAdministrators sell 80 Floors-2-go stores

Administrators sell 80 Floors-2-go stores

Kroll secures sale of 80 stores to the original founders of the business

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
business.’

Kroll closed 41 stores last month and shut the remaining 11 over the weekend,
The
Telegraph
reported.

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.

Further Reading:

Read
The Telegraph story

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