Flooring firm Headlam cuts 64 more jobs after administration; Likewise buys parts
Headlam, the Birmingham-based flooring distributor, has cut a further 64 jobs and closed 25 more trade counters after entering administration. Rival Likewise Group is buying parts of the business for £14.9 million, and Headlam's shares will be delisted.
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The story, neutrally told
Mixed · 2Flooring firm Headlam has cut a further 64 jobs and closed 25 trade counters after entering administration last month. Evening StandardN “has cut a further 64 jobs and closed 25 trade counters, after previously announcing the closure of 28 counters and 154 job losses.” Read at Evening Standard ↗ Daily ExpressR “The company, which entered insolvency last month, has cut a further 64 jobs and closed 25 trade counters” Read at Daily Express ↗ Mixed · 2The new cuts follow an earlier announcement of 28 counter closures and 154 job losses. Evening StandardN “after previously announcing the closure of 28 counters and 154 job losses.” Read at Evening Standard ↗ Daily ExpressR “The firm had previously announced 154 job losses.” Read at Daily Express ↗ Centre · 1Administrators from Interpath said around 110 jobs have been secured after rival Likewise Group agreed to buy parts of the collapsed business. Evening StandardN “administrators from Interpath said around 110 jobs have been secured after rival flooring business Likewise Group struck a deal to snap up parts of the collapsed business.” Read at Evening Standard ↗
Centre · 1The £14.9 million deal covers Headlam's Thatcham distribution centre with its operating assets and inventory, the trade and assets of its Crucial Trading business, and Concept Flooring's trade and assets in West Bromwich and Stoke-on-Trent, plus Headlam's principal intellectual property. Evening StandardN “The £14.9 million deal will see Likewise buy Headlam’s Thatcham distribution centre, including operating assets and inventory on sites” Read at Evening Standard ↗ Centre · 1Likewise will also help the administrators sell residual stock across Headlam's remaining premises. Likewise said the deal will help it grow towards a £300 million revenue target, and its shares rose on Wednesday. Evening StandardN “The administrators also entered into an agreement which will see Likewise assist them in selling all residual stock across Headlam’s remaining network of premises.”“said the deal will help it grow towards its target of £300 million in revenues.” Read at Evening Standard ↗ Centre · 1Headlam, based in Birmingham, had its shares suspended after announcing plans in early September to hire administrators, and confirmed on Wednesday that they will be delisted from the London Stock Exchange. It was valued at more than £500 million at its peak. Evening StandardN “Headlam, which was valued at more than £500 million at its peak, confirmed on Wednesday that its shares will now be delisted from London Stock Exchange.”“saw its shares suspended after announcing plans to hire administrators early in September.” Read at Evening Standard ↗
Centre · 1Interpath's Ryan Grant, joint administrator, said the administrators had explored exiting through a CVA and a broader debt restructuring, but that a sale of certain parts of the business and assets had become the best and most deliverable outcome for creditors. Evening StandardN “it has become clear that a sale of certain parts of the business and assets represents the best and most deliverable outcome for creditors.” Read at Evening Standard ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left1 outlet
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- Business-news report on the further cuts, leading with the delisting and including the Likewise rescue deal and administrator comment.
- Emphasis
- The Likewise sale, jobs secured, delisting and administrators' reasoning.
- Leaves out or plays down
- None significant.
- For example
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“But administrators from Interpath said around 110 jobs have been secured” — Evening Standard
Right1 outlet
- Framing
- Headline stresses the firm's long history (since 1948) and being 'plunged' into administration, leading with the further job cuts.
- Emphasis
- Job losses and the firm's age.
- Leaves out or plays down
- The visible text omits the Likewise deal, the roughly 110 jobs secured, the delisting and administrator comments.
- Charged language
- “plunged into administration”
- For example
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“UK flooring firm in business since 1948 plunged into administration - further 64 jobs cut” — Daily Express
What every side reports
- Headlam entered administration last month.
- It has cut a further 64 jobs and closed 25 trade counters.
- Earlier it announced 154 job losses and 28 counter closures.
Left1 article
Centre1 article
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More jobs cut at flooring firm Headlam after administration
Neutral Detailed factual account of cuts, the rescue sale and delisting.
Right1 article
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UK flooring firm in business since 1948 plunged into administration - further 64 jobs cut
Mixed Short, job-loss-focused piece with a dramatic headline and little detail beyond the cuts.
- 7 Oct 12:53 First Evening StandardN More jobs cut at flooring firm Headlam after administration
- 7 Oct 13:04 +10m Daily ExpressR UK flooring firm in business since 1948 plunged into administration - further 64 jobs cut
- 7 Oct 13:59 +1h 6m Daily MirrorL Flooring giant Headlam axes more jobs and shuts 25 sites after administration
Times are when each article was published, or when we first saw it if the outlet gave no time.