Likewise Group (Aim: LIKE) is set to absorb trade following the administration of Headlam, a major UK flooring distributor, on 1 September. Tony Brewer, CEO of Likewise Group, previously led Headlam to become a market leader before his departure in 2016.
Brewer established Likewise Group in 2018 with the aim of creating a modern distribution model. The company has been recruiting sales representatives and managers from Headlam, leading to a loss of volume for the former market leader.
In July, Likewise Group secured £32.5 million in new equity. This capital is being used to fund freehold logistics facilities, preparing the company to handle additional trade as accounts and orders from Headlam's collapse flow into its network.