UK’s Floors 2 Go Ends Bid Talks

Birmingham, England, March 22–Floors 2 Go has pulled the plug on talks which could have led to a takeover offer, according to the Birmingham Post & Mail.

The AIM-listed company – Britain’s biggest laminate and wooden flooring retailer – said it had been unable to reach an agreement on a price directors believed reflected the true value of the business.

The firm admitted to a bid approach in December, but did not name its suitor, although private equity group Apax Partners was rumoured in January to be the front runner.

In December the company posted a pretax profit for the nine-months to December 31 2004 of pounds 5.2 million and said the outlook for 2005 was good.

The 121-store chain said its strategy was to build a chain of 350 stores.