A flooring business which traded at more than 20 stores across the country has been bought out of administration.
Birmingham-based real estate group Taylor Grange Developments has acquired 22 shops and associated websites of Anbo International and Flooring Republic.
The companies traded as Flooring Republic on the high street and Posh Floorings online and sold laminate, wood, parquet and vinyl flooring and accessories.
They were placed under the control of administrators Andrew Pear and Michael Solomons from BM Advisory in May.
The acquisition has saved more than 30 full-time jobs at shops including in Dudley, Wolverhampton, Coventry and Leicester.
Karen Clack, director of Taylor Grange Retail, the new company set up to carry out the buyout, said: "We have ambitious plans to get this business back on track with a major rebrand and £1 million of new stock going in to the shops.
"We have negotiated deals for a number of exclusive products from international suppliers new to the UK market.
"We plan to open another seven shops this year and 30 next year, with the ultimate goal of growing to 120 locations which we feel will be the optimum number.
"The difficulties of the retail sector have been well-documented so it is great to have a positive story to tell."
Law firm Shoosmiths advised Taylor Grange Retail on the undisclosed rescue deal.
Corporate partner Karen Procter said: "This was a complex transaction completed within a short time frame and we are delighted to have worked on a deal that has secured the future of a number of stores at a time where we continue to see significant numbers of retailers struggling.
"We wish the experienced team all the best as they move from recovery and into growth mode."
