Floors-2-Go


Floors-2-Go was a wood flooring retailer in United Kingdom, first established in 1999. In April 2012, the company's affiliates took over Allied Carpets, in a pre pack administration deal.

History

Floors-2-Go began as a family business in 1999, with the first store opening in Birmingham. In April 2004, the firm floated on the London Stock Exchange. This saw the firm evolving from cash and carry type warehouses, to retail superstores.
In August 2005, Floors-2-Go opened the first stores in Northern Ireland.
In November 2005, Floors-2-Go announced an expansion target for stores around 350.
In December 2006, it was bought for £52.4 million, by directors and private equity firm Alchemy Partners. The sale was completed in February 2007. In December 2006, during the sale, the firm applied for the cancellation of trading on the London Stock Exchange. This effect took place in February 2007.
In 2009, Floors-2-Go made pre tax profits of £764,538, with sales totalling almost £34 million.

Administration

In July 2008, the firm first entered administration, after the firm became a victim of the then struggling housing market. The administrators, Kroll immediately closed forty one of the group's stores, which were around 132, consequently cutting ninety seven of the chain's then staff, which were around 450. However, the firm was later saved, preventing the firm from no longer trading.
In August 2011, however, the firm entered administration for the second time. Senate Recovery the administrators, closed fifty three stores immediately. The administrators managed to save jobs around 162, as well as thirty five stores, thus saving the firm as a whole.
In July 2014, the now struggling firm entered administration for the third time. MB Insolvency were appointed administrators, and managed to save jobs, which were around 162. However, the number of stores have been gradually reduced.
In November 2015, the business entered administration for a fourth time, with a jail threat to the brothers who own the chain.
The company was dissolved in January 2017.