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FADS Parent company enters administration
Divalimit, the parent company of FADS, Texstyle World and Leveys has been placed in administration little more than a year after it purchased the brands according to reports.Administrator Hodgsons has been appointed and is understood to be in the process of looking for a buyer.
The remaining 16 stores will continue to trade in the meantime.
Divalimit director Roy Gabbie reportedly paid just over £1.5m for around half the 47 FADS Texstyle World and Leveys stores when previous the owner, Strategic Retail, entered administration in December 2008.
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