Famous Army Stores

Famous Army Stores Ltd. was a major independent retailer of camping equipment, outdoor clothing footwear and army surplus. It was established in 1981 and based in Garston, Liverpool.[1] It had been owned and managed by the well known Wilson family of Liverpool,whose business interests had included the Starways Airline which operated out of Liverpool.

In 1996 a management buy-out was carried out by Financial Director, Graham Smith and two colleagues. The chain then rapidly grew from 100 stores to 200 in an amazing change of fortune with a turnover of £50 million and profits of £2.2 million in 1998.[2] Foot and mouth disease and mismanagement plunged the once profitable business into severe debt with losses approaching £2.1 million for 2001. When the company's bankers cancelled their overdraft facility, the company was forced into in administration.[3]

The preferred bidder and eventual owner, Blacks Leisure Group (Blacks), acquired 47 stores and all of the stock for £1.7 million. While Blacks retained all of the staff from the 47 stores, most of the managers left the business as the stores' brands were changed to Millets or Blacks.

References

  1. "Famouse Army Stores Limited". Companies House [England]. Retrieved 2016-11-07.
  2. http://www.telegraph.co.uk/finance/2752652/Blacks-marches-on-Army-stores.html
  3. "Famous Army Stores waves the white flag". (North Wales) Daily Post. Jan 2002. Retrieved 2016-11-07.
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