West Midlands-based Floors-2-Go has been bought out of administration by the family that founded the business – saving hundreds of jobs.

But the Kidderminster store is on the list of those to close. Brothers Robert and Richard Hodges are part of the family that formed the Birmingham firm in 1999.

 They banked millions when it was floated on the stock market in 2004.

The group, the UK’s biggest wood and laminate flooring retailer, called in the administrators last month. Administrator Kroll said today that it had sold 80 of the firm’s stores to the original founders, securing jobs for just over 300 members of staff.

The administrators had already closed 41 of the 132 stores, including those in Wolverhampton and Walsall, with the Kidderminster outlet joining the list. But stores in Bilston, Brierley Hill, Cannock, Dudley and Telford are said to be trading.

Kroll’s Fraser Gray said: “In what has been a turbulent period for retailers, this sale represents the best possible outcome for creditors and is a tremendous result for the business, its staff, customers and suppliers.

“The purchasers have a history in the retail flooring sector and a passion for this business.”

The new company is called Floor My Home, set up and controlled by the two brothers. Robert Hodges said: “We are delighted to have saved the jobs of so many of the Floors-2-Go team and to be able to provide the British public with a real alternative to the big stores when beautifying their homes.”