Tue, 24 Apr 2012 | ADMINISTRATION
Troubled flooring firm Allied Floors has been purchased in a pre-pack administration by General George, which is part of the Floors-2-Go Group.
Allied Floors had bought Allied Carpets out of administration last year, with Leonard Curtis overseeing the transaction. Back in 2009 BDO had managed the sale of about 51 of Allied Carpets’ original total of 217 stores.
Allied Carpets has fallen into administration three times since 2009. This latest move has saved all its nine stores and 41 jobs.
Geoff Bouchier and Matt Bond of Duff & Phelps have been brought in to the business on this occasion. The sale took place shortly after their appointment.
Mr Bouchier commented to Insolvency Today about the successful deal: “We are pleased to have completed a going concern sale of the business which has resulted in the continued operation of all nine stores and saved 41 jobs.”
Before suffering trading problems Allied Carpets had about 217 stores and a 1,000-strong workforce.
As a non-essential item and due to the continued stagnant housing market, sales of carpets and other flooring have been badly hit.
New owner General George has eight stores in Scotland, and sells carpets, laminates, vinyls, woods and rugs.
This business presents a robust opportunity with an established client base across multiple sectors and a strong management team.
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Acquire a reputable accounting practice in the North West with decades of industry experience. The business has cultivated an impressive client profile, which includes a healthy proportion of limited companies.
A well-established accounting practice in West Sussex is now available for acquisition, presenting a unique opportunity for expansion or entry into a thriving market.
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