UK’s largest decorative surfaces distributor faces uncertain future
The UK’s largest distributor of decorative surfaces is facing an uncertain future after posting a notice of intention to appoint administrators (NOI).
Headquartered in Newcastle-Under-Lyme, International Decorative Surfaces (IDS) supplies more than 12,000 products to its customer base through its national branch network and online store. The business specialises in flooring, worktops, laminates, compact, panel products, solid surfaces, wall panelling and composite decking.
IDS employed 525 staff in its last accounts filed at Companies House and reported revenues of more than £78.7m.
Private equity investor Chiltern Capital had backed the team which had also secured a multi-million asset-based lending facility from Secure Trust Bank Commercial Finance.
Headed up by CEO Andy Sutton, CFO Kevin Riddle and COO Paul Burns, IDS said last year it had transformed through investment into its operational systems, product lines, and people.
Riddle has since left the firm, alongside managing director John Bagshaw, who had led the business since its formation from the merger of L Bloom and Meyer Laminates in 1999. Tony Buffin was introduced as chair, who had previously held roles on the boards of Travis Perkins plc and Kingfisher and is currently the chair of HIG-backed Highbourne Group.
IDS has been contacted for comment with no response received.
