Brief
Headlam cuts 64 jobs and closes 25 trade counters after entering administration
Headlam announced further job cuts and store closures as administrators secure a £14.9 million asset sale to Likewise Group.
By Felo News Desk · Published
Flooring firm Headlam announced on Wednesday that it has cut a further 64 jobs and closed 25 trade counters after entering administration last month, Independent reported.
The company had previously announced the closure of 28 counters and 154 job losses. Administrators from Interpath said a £14.9 million deal with rival Likewise Group will see the latter acquire Headlam’s Thatcham distribution centre, the trade and assets of its Crucial Trading business, and the Concept Flooring operations in West Bromwich and Stoke‑on‑Trent, as well as the firm’s principal intellectual property.
Likewise will also help sell residual stock across Headlam’s remaining premises, and its shares rose after the announcement. Ryan Grant, managing director at Interpath and joint administrator, said the sale of parts of the business represented the best outcome for creditors.
Key facts
- Headlam cut 64 jobs and closed 25 trade counters (independent.co.uk)
- Likewise Group agreed to a £14.9 million deal for Headlam assets (independent.co.uk)
- Previously announced closures included 28 counters and 154 jobs (independent.co.uk)
Sources
- [1] independent.co.uk — originally reported as “More jobs cut at flooring firm Headlam after administration”
