Retail Deathwatch: Floors-2-Go in administration, but is partially saved
There’s probably some vaguely amusing pun to be made about people who sell flooring being laid off, but we’re not going to be partaking in that sort of thing. Another notable company has called in the administrators, Floors-2-Go, with 53 stores closing and 192 jobs going.
But it isn’t a complete catastrophe, as the administrators, Senate Recovery, have sold the remaining 35 stores to a company called Nixon & Hope. Hopefully Nixon & Hope will have some idea about what they’re doing as they were formed by TWO FORMER FLOORS-2-GO DIRECTORS! Namely, Parjinder Sangha and David Vizor.
This is the second time that Floors-2-Go has plunged into administration in the past three years. Back in 2008, the company was saved when its original founders, brothers Robert & Richard Hodges, swooped and injected £3m, after having sold up to an investment bank in 2004. The Hodges brothers are believed to have been involved in funding the latest buy-out. Flooring mad they are.