Allied floored by huge loss
Allied Carpets today became the latest retail chain to be put at risk after its French parent company announced it was for sale.
The flooring chain, which has 220 stores, is to be offered to investors by Tapis Saint-Maclou, a French carpet firm, after making a loss of £6.8 million last year and with analysts predicting a £20million loss for 2008.
The move came amid growing concern over the high street and after the rescue of Whittard of Chelsea, which was bought out for an unnamed price by private equity firm EPIC.
The company, which owns the Past Times chain, has also bought the Boaters Coffee Limited brand.
Meanwhile, menswear retailer The Officers Club has gone into administration.
However, the jobs of more than 900 staff members have been saved with the sale of 118 out of its 150 stores - leaving 32 to close immediately.
The firm struggled after moving to the middle market from its origins as a value retailer.
