Flooring specialist Floors-2-Go has gone into administration, as The Independent predicted yesterday. The 132-store retailer appointed Kroll as administrator, after Floors-2-Go succumbed to torrid trading in the home improvement sector and failed to find additional funds.
Kroll's joint administrators were forced to close 41 stores resulting in 97 employees being made redundant, but it reassured customers that existing orders and deposits will be honoured. The private equity firm Alchemy Partners backed the £52.4m acquisition of Floors-2-Go in December 2006.
Kroll partner Fraser Gray said: "Retailers are battling a particularly hostile trading environment at present, and it is clear that the pain is being felt acutely in the home improvements sector."Reuse content