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Business survival improved for flooring in 2024
January 8, 2025
Insolvencies in the flooring and funrishing sector were down by a fifth in 2024 though analysts say the situation is still "grim".
Research carried out by leading furniture publication The Furnishing Report showed that 525 companies either entered administration or liquidation in 2024, down 22% on the previous year.
The publication has been tracking insolvency in flooring and furnishing since 2008 and commented: "Last year's total, though lower, remains grim.
"It is more that double the 234 that filed for insolvency in 2021, and the thick end of 200 more than in 2019, the last full year pre-Covid," it said.
The analysts also calculated that those companies that failed in 2024 left creditors facing a combined shortfall of £647m.
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