The UK's leading specialist distributor of decorative surfaces International Decorative Surfaces (IDS) filed a notice of intention to appoint an administrator on 2nd September in a move that could result in the loss of a significant number of jobs.
Formed from the merger of L Bloom and Meyer Laminates in 1999, IDS was an asset of Saint Gobain Building Distribution for 23 years under the leadership of John Bagshaw, during which time the company grew to become the UK’s largest distributor of decorative surfaces, supplying over 12,000 product lines from 11 regional branches and 7 makeover centres. Headquartered in Newcastle-Under-Lyme, Staffordshire, with over 500 employees, the company's portfolio spans high pressure laminates, solid surfacing, worktops, flooring, wall and ceiling panels, panel products and composite decking.
In 2022, it announced it had partnered with private equity investor Chiltern Capital to complete a management buyout, supported by a multimillion asset-based lending facility from Secure Trust Bank Commercial Finance, continuing to operate with the existing management team with MD John Bagshaw at the helm. At the end of 2022, Bagshaw announced his retirement, handing over the reins to Andy Sutton, IDS's longstanding commercial director, who moved into the role of CEO, supported by CFO Kevin Riddle, who has since left the business, and COO Paul Burns.
In its last accounts filed at Companies House it reported turnover of more than £78.7million.
