Allied Carpets, Britain’s second-biggest flooring retailer, has gone into administration, falling victim to the decline in consumer spending and the frozen housing market.
More than 160 stores are now up for sale, putting 1,100 jobs at risk.
BDO Stoy Hayward, the restructuring firm, was appointed administrator to the 217-chain, which is owned by Hilco, the debt specialist.
In a process known as pre-pack administration, 51 of the company’s stores were sold immediately to Allied Carpets Retail – a new company set up in partnership with the collapsed retailer’s management.
Financial Times 18/07/09 page 14, Daily Telegraph 18/07/09 page 33, The Times Business 18/07/09 page 48, The Guardian 18/07/09 page 34, The Independent 18/07/09 page 15
