Coloroll
Encyclopedia
Coloroll is a United Kingdom
wallpaper
brand, currently owned by retailer ...instore
.
Developed from a family owned wallpaper
company founded in the 1970s, during the 1980s Coloroll Group became a dominant publicly listed home furnishings business, which collapsed in 1990 through excessive debt. Of the 10 residual brands which survived from the collapse, nine of the businesses survive presently.
manufacturer. After hiring marketing manager John Bray, he developed a strategy to move into wallpaper manufacture. Hiring designers John Wilman and Linda Beard, they developed a range which was similar to the classic fashion look developed by Welsh entrepreneur Laura Ashley
. To develop new overseas markets, Bray hired John Ashcroft from competitor Crown Wallpaper
as export manager.
Ashcroft's strategy was to extend the Wilman/Beard designs across a range of home furnishings, to provide a co-ordinated whole home look to the consumer. After floating the business in 1985 - leading shareholders included the pension funds of Scottish Amicable and British Coal
- the company spent £420M in the next five years on acquisitions, of which £16M was spent in the United States
, taking the strategic vision into a reality.
The brands they bought included:
In June 1990, the High Court
agreed at the banks request to the appointment of Ernst & Young
as receivers. In six months they agreed eight management buyout
s, and sold off two other business. 1,500 employees in non-saleable businesses were made redundant, while less than half of the £200M owed to the banks was recovered, with lead lender NatWest taking a £25M loss. Swedish investment companies Mercurius and Proventus, who had each paid £2.3M for 5% of the group in February 1990, lost their entire investment.
, who still today produce Coloroll branded wallpaper.
Ashcroft, who had been appointed CBE
in the 1990 News Years Honours list, resigned as Group chairman in March 1990. He moved from London to his Lake District
farm, where he kept a pedigree flock of Charollais
sheep. In 1991 he bought Cumbrian
-based retailer of outdoor clothing Survival Aids, expanding it in 18 months from 3 to 14 shops. In 1993 it collapsed into administration with debts of £1.7M. He gained a Ph.d at Manchester Metropolitan University
, and after a series of corporate positions, became a visiting lecturer at Manchester Metropolitan Business School.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
wallpaper
Wallpaper
Wallpaper is a kind of material used to cover and decorate the interior walls of homes, offices, and other buildings; it is one aspect of interior decoration. It is usually sold in rolls and is put onto a wall using wallpaper paste...
brand, currently owned by retailer ...instore
...instore
...instore was a chain of retail stores in the United Kingdom selling a range of products and principally concentrating on value home-ware items....
.
Developed from a family owned wallpaper
Wallpaper
Wallpaper is a kind of material used to cover and decorate the interior walls of homes, offices, and other buildings; it is one aspect of interior decoration. It is usually sold in rolls and is put onto a wall using wallpaper paste...
company founded in the 1970s, during the 1980s Coloroll Group became a dominant publicly listed home furnishings business, which collapsed in 1990 through excessive debt. Of the 10 residual brands which survived from the collapse, nine of the businesses survive presently.
Foundation
The company was founded in 1970 by the Gatward family, as a printed paper bagPaper bag
A paper bag or paper sack is a preformed container made of paper, usually with an opening on one side. It can be one layer of paper or multiple layers of paper and other flexible materials. A bag is used for packaging and/or carrying items....
manufacturer. After hiring marketing manager John Bray, he developed a strategy to move into wallpaper manufacture. Hiring designers John Wilman and Linda Beard, they developed a range which was similar to the classic fashion look developed by Welsh entrepreneur Laura Ashley
Laura Ashley
Laura Ashley was a Welsh fashion designer and businesswoman. She became a household name on the strength of her work as a designer and manufacturer of a range of colourful fabrics for clothes and home furnishings....
. To develop new overseas markets, Bray hired John Ashcroft from competitor Crown Wallpaper
Crown Wallpaper
Crown Wallpaper was an agglomeration of wallpaper manufacturers in the United Kingdom in 1899....
as export manager.
Coloroll Group
Appointed managing director in 1981, Ashcroft bought the Gatwards and Bray out of the business in 1984.Ashcroft's strategy was to extend the Wilman/Beard designs across a range of home furnishings, to provide a co-ordinated whole home look to the consumer. After floating the business in 1985 - leading shareholders included the pension funds of Scottish Amicable and British Coal
British Coal
thumb|right|British Coal company logoThe British Coal Corporation was a nationalised corporation in the United Kingdom responsible for the extraction of coal...
- the company spent £420M in the next five years on acquisitions, of which £16M was spent in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, taking the strategic vision into a reality.
The brands they bought included:
- Alexander Drew, printing
- Burlington Wallcoverings, later sold to Graham & Brown
- Denby Pottery CompanyDenby Pottery CompanyDenby Pottery Company Ltd is a British manufacturer of pottery, and is named after the village of Denby in Derbyshire.-History:The pottery at Denby was founded on the estate of William Drury-Lowe in 1809 as a manufacturer of stoneware bottles. It was run by Joseph Jager in partnership with Robert...
- Edinburgh CrystalEdinburgh CrystalEdinburgh Crystal was a cut glass crystal manufactured in Scotland between 1867 and 2006, and was also the name of the manufacturing company. In addition to drinking glasses, Edinburgh Crystal have made decanters, bowls, baskets, and bells, in several ranges...
- Kosset Carpets
- Royal WintonRoyal WintonRoyal Winton is a British brand of fine bone china tableware, made by Grimwades Limited, a Stoke-on-Trent based company founded by Leonard Lumsden Grimwade in 1885....
- Staffordshire Tableware
- William Barrett Group, furniture, later bought by property developers with assets sold to Hampson IndustriesHampson IndustriesHampson Industries plc is a large British provider of engineering services to the aerospace and automotive industries. The Company is listed on the London Stock Exchange and is a former constituent of the FTSE 250 Index.-History:...
Collpase
In 1988, the group paid £215M for recently created clothing and carpet conglomerate John Crowther, which had not itself been fully integrated. In 1989, the United States wallpaper operations were sold off to create cash. In 1990, a refinancing exercise lead to an audit by the banks that showed that group debt was at £350M. Refusing to underwrite the rising debt without an additional capital injection, proposed buyer Candover Investments withdrew when the debt level increased to nearly £500M.In June 1990, the High Court
High Court
The term High Court usually refers to the superior court of a country or state. In some countries, it is the highest court . In others, it is positioned lower in the hierarchy of courts The term High Court usually refers to the superior court (or supreme court) of a country or state. In some...
agreed at the banks request to the appointment of Ernst & Young
Ernst & Young
Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....
as receivers. In six months they agreed eight management buyout
Management buyout
A management buyout is a form of acquisition where a company's existing managers acquire a large part or all of the company.- Overview :Management buyouts are similar in all major legal aspects to any other acquisition of a company...
s, and sold off two other business. 1,500 employees in non-saleable businesses were made redundant, while less than half of the £200M owed to the banks was recovered, with lead lender NatWest taking a £25M loss. Swedish investment companies Mercurius and Proventus, who had each paid £2.3M for 5% of the group in February 1990, lost their entire investment.
Present
Wilman and Beard owned the original artwork, licensing it to Coloroll for their designs. After a buy-out deal with the receivers fell through, Beard took the integrated home-furnishings concept to the London-based textile company Ashley Wilde. John Wilman agreed a deal where by he bought the Coloroll brand, which he later sold to ...instore...instore
...instore was a chain of retail stores in the United Kingdom selling a range of products and principally concentrating on value home-ware items....
, who still today produce Coloroll branded wallpaper.
Ashcroft, who had been appointed CBE
CBE
CBE and C.B.E. are abbreviations for "Commander of the Order of the British Empire", a grade in the Order of the British Empire.Other uses include:* Chemical and Biochemical Engineering...
in the 1990 News Years Honours list, resigned as Group chairman in March 1990. He moved from London to his Lake District
Lake District
The Lake District, also commonly known as The Lakes or Lakeland, is a mountainous region in North West England. A popular holiday destination, it is famous not only for its lakes and its mountains but also for its associations with the early 19th century poetry and writings of William Wordsworth...
farm, where he kept a pedigree flock of Charollais
Charollais (sheep)
The Charollais is a breed of domestic sheep originating in France. It has been exported internationally, and is commonly used in the U.K. as a sire to produce market lambs with purebred ewes and mules.-Characteristics:...
sheep. In 1991 he bought Cumbrian
Cumbria
Cumbria , is a non-metropolitan county in North West England. The county and Cumbria County Council, its local authority, came into existence in 1974 after the passage of the Local Government Act 1972. Cumbria's largest settlement and county town is Carlisle. It consists of six districts, and in...
-based retailer of outdoor clothing Survival Aids, expanding it in 18 months from 3 to 14 shops. In 1993 it collapsed into administration with debts of £1.7M. He gained a Ph.d at Manchester Metropolitan University
Manchester Metropolitan University
Manchester Metropolitan University is a university in North West England. Its headquarters and central campus is in the city of Manchester, but there are outlying facilities in the county of Cheshire. It is the third largest university in the United Kingdom in terms of student numbers, behind the...
, and after a series of corporate positions, became a visiting lecturer at Manchester Metropolitan Business School.