Friday, September 16, 2011

News: National retailers in administration


Two struggling national retailers with outlets in Rotherham have entered administration.

Floors2Go, the Birmingham based operator of 90 retail flooring stores in England went into administration last month.

Administrators at Senate Recovery Limited, the Warwick based insolvency practice, has been able to secure a sale to Nixon and Hope for the continued trading of 35 stores and the jobs of 162 employees.

Jeremy Bowden, joint administrator, confirmed that the outlet at Taylors Lane, Parkgate, was one of the stores sold as part of the sale and the intention is for this store to continue trading.

Jeremy said: "We have worked hard with the company, its directors, other parts of the Senate Group and an external funder to achieve this deal despite hostile economic and trading conditions. Everyone involved has worked hard to get the deal through".

Furniture chain Walmsley entered administration last month with 25 stores immediately sold to a new owner, private equity firm SKG, by administrators from Leonard Curtis.

Walmsey's Suite Superstore on Bridgegate in Rotherham town centre was one of 38 stores that have been closed, mainly in the north of England and the Midlands.


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