Jobs saved as flooring business sold out of administration

Some 12 jobs have been saved at a Leicestershire supplier of sustainable wood and laminate flooring after the business was sold out of administration.

Silvan Select, of Thurmaston, called in joint administrators Phil Ballard from Ballard Business Recovery and Craig Ridgley from Mercian Advisory on June 28.

Trading as Silvan Floors, the firm crafts flooring from sustainably sourced timber for “leading international designers, architects and individuals around the world” and has completed projects in such sought-after locations as Knightsbridge Court and Sloane Street in London. Brands produced by the company include Silvan, Axedo and Genus.

Its base on Enderby Road has been used as a sawmill for over 60 years.

The directors of the company attributed the war in Ukraine affecting the supply of raw materials and price increases generally to the failure of the company. The assets and business of the company were subsequently sold to unnamed buyer following the granting of the administration order and the majority of the employees were transferred to the purchaser immediately following the sale.

Ridgley said: “I am pleased that a successful sale was achieved that saved 12 jobs and will provide the best return to the company’s creditors in the circumstances.”