Flooring Republic Limited (09736819): administration
- Status
- Administration ended
- Administration began
- 2018-05-29
- Administrators
- Andrew James Pear, Michael Stephen Elliot Solomons
- Administrators' firm
- Moorfields
- Incorporated
- 2015-08-17
- Location
- London
- Industry
- 47990 Other retail sale not in stores, stalls or markets
Why it went into administration
- Cash flow / liquidity pressure
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 17 August 2015 and remained dormant until around 1 July 2017 when it began trading as the retail arm of its parent entity, Anbo International Limited (‘Anbo”), specialising in the sale of wood and laminate flooring. The business traded from 20 different leasehold stores located nationwide, each with a showroom for customers to view the items available. The Company also had an online presence in conjunction with a third party through the website www.poshflooring.co.uk.
Anbo was incorporated in 2007 and supplied wood flooring stock to UK retailers from manufacturers located in China. At the end of 2015 Anbo took the opportunity to expand its business operations to include retail sales to UK customers and took over 20 leasehold stores. In 2017 the interior design and construction industries changed such that management could no longer predict demand for the products. Large competitors were also suffering under the changing market conditions, therefore, management decided to split Anbo’s business between wholesale and retail and the retail arm was transferred to the Company with a view to selling the retail business as a separate entity in the future. Anbo was placed into Administration on 1 June 2018.
Summary of financial history
Administrators' statement of proposals (2018-06-22) · Companies House register