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.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.