Flooring Industry News Review 2021: Part 2
Welcome to our news round-up for 2021 – a great way to keep up to date with all the latest news, views and commentary for the flooring industry and business owners. We’ve taken one story from each of our monthly flooring news roundups so you can see the main flooring news stories over 2021. We’ve split those into two blogs to make them a shorter read.
This blog is Part 2 and features flooring industry stories from July – December 2021. To keep on top of all the latest industry news why not follow our LinkedIn page – we always post interesting news stories and article links on our page.
JULY: FLOORING FIRM FAILURES HALVED
The Stocklists reported on post-lockdown business performance for the flooring industry:
‘Booming business amid post-lockdown pent-up demand means that insolvencies in the flooring and furnishing industry are running at half their normal rate.
95 companies from across the flooring and furnishing industry were placed into administration, liquidation or subject to winding up orders in the first half of 2021 — down from 186 in the first six months of last year.’
August: THE FLOORING SHOW GETS BACK TO BUSINESS IN HARROGATE
“The highly anticipated Flooring Show returns to Harrogate Convention Centre from 19-21 September 2021 with an unmissable line up of new and established flooring suppliers.‘It’s been two years since the flooring industry last came together, and we’re sure you’ll agree it’s been far too long’ says event director, Alex Butler. ‘So many buyers have missed the opportunity to touch and feel products before making decisions, and we’re so excited for our sector to come together and finally do business in person again.’
September: FLOORING RESILIENT TO HIGH STREET CLOSURES
In the cull of high street brands that saw over 5,000 stores close in the first half of this year, furniture and flooring showed its resilience.
According to latest analysis by the Local Data Company (LDC), of the 5,251 retail outlets that pulled down the shutters between January and July 2021, only 135 furniture and flooring stores closed.
This compares with 1,063 fashion shops that closed (including many of the multi-outlet mainstream chains), 452 charity shops, 428 car dealers, 377 betting shops and 286 bank branches.
October: HIGH DEMAND “WILL CONTINUE INTO 2022”
Current levels of high demand for flooring will continue into 2022 says leading UK flooring company Victoria plc.
“The demand for flooring experienced this year has primarily come from existing home owners redecorating. However, the Board expects demand to continue next year and beyond, due to the high level of housing transactions that has been experienced in many of the Group’s key markets this year,” said the company in a half-year trading update to its shareholders.
November: BUDGET BOOST ON RETAIL RATES
Chancellor Rishi Sunak announced a 50% reduction in business rates in a tax cut worth £1.7 billion as part of a package of measures aimed at retail to boost post-pandemic recovery.
Any eligible retailer will be able to claim a temporary discount on their bills of 50%, up to a maximum of £110,000 in the 2022-23 tax year.
In conjunction with the existing Small Business Rates Relief, the chancellor said the move meant more than 90% of all retail, hospitality and leisure businesses would see a discount of at least 50%.
December: England Moves to COVID-19 Plan B
The Prime Minister called a press conference Wednesday night to announce that England is moving to Plan B following the rapid spread of the Omicron variant.
Construction sites are urged to continue to minimise the risk of spreading the virus to keep the workforce safe and sites operational. Build UK are currently reviewing the CLC Site Operating Procedures and guidance on the Use of Face Coverings in Construction.
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