Midlands-based flooring specialist Floors-2-Go has completed the acquisition of the Allied Carpets business from its administrators.
Allied Carpets went into administration on Friday April 20 and was snapped up by Floors-2-Go within hours.
The company says it plans to retain half of the Allied Carpet store portfolio.
The deal comes just six months after Floors-2-Go was itself bought out of administration and the company said the Allied acquisition demonstrated confidence by the board in the ability to grow market share in the face of “very difficult economic conditions”.
“It was a fantastic opportunity for Floors-2-Go,” said director, David Vizor. “We are able to expand our geographic base significantly and add Allied Carpets and General George to the other well-known brands under our control.”
The restructuring team at Midlands law firm Higgs and Sons acted for Floors-2-Go.
Partner David Ellis, who led the team, said: “This was a complex transaction involving insolvency, employment and property law as well as requiring the use of Scottish lawyers in connection with the shops north of the border.
“The team worked to an extremely tight timescale but were pleased that the purchase was successfully concluded and wish the expanded group every success for the future.”