"Flooring Superstore has drafted in Begbies Traynor and the restructuring arm of Santander to weigh its options, with a company voluntary arrangement or full administration both on the table."
"The retailer was co-founded in 2012 by Dan Foskett and sells vinyl, laminate and wood flooring alongside artificial grass through its branded showrooms and online channels."
"Flooring Superstore was a pandemic winner, riding the wave of home-improvement spending while consumers were confined to their properties, but faced challenges as lockdowns eased."
Flooring Superstore has appointed restructuring advisers as it navigates financial difficulties linked to the cost-of-living crisis. The company, employing around 300 people, is considering options such as a company voluntary arrangement or full administration. Co-founded in 2012, the retailer experienced growth during the pandemic but now faces challenges from rising costs and reduced consumer spending. Growth Partner, which invested in the company, has seen several of its backed businesses fail recently, raising concerns about the future of Flooring Superstore.
Read at Business Matters
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