History
Floors-2-Go was founded in 1999 as a family business, with the first store opening in Birmingham. In 2004, the firm floated on the London Stock Exchange. This saw the firm evolving from cash-and-carry (wholesale)-type warehouses to retail superstores. [2]
In 2005, Floors-2-Go opened its first stores in Northern Ireland. [3] Later that year, the company announced plans to expand to around 350 stores. [4]
In 2007, Floors-2-Go was sold for £52.4 million to its directors and private equity firm Alchemy Partners, at which point it ceased trading on the London Stock Exchange. [5]
Administration
In 2008, the firm entered administration for the first time, with its business hit by a slump in the housing market. [6] The administrators, Kroll immediately closed 41 of the group's 132 stores, resulting in 97 redundancies from a workforce of around 450 [ citation needed ].
The firm was saved but entered administration for a second time in 2011. Senate Recovery, the administrators, closed a further 53 stores, but retained 35. [7]
In 2014, the business entered administration for the third time. MB Insolvency were appointed administrators, and made a further reduction in the number of stores and staff... [8] However, the business re-entered administration the following year, this time with a jail threat to the brothers who owned the chain. [9]
The company was eventually dissolved in 2017. [10]
