Coloroll
| Company type | Public (former) |
|---|---|
| Industry | Home furnishings, wallpaper manufacturing |
| Founded | 1970 |
| Founder | Gatward family |
| Defunct | 1990 |
| Fate | Collapsed due to debt; receivership and management buyouts |
| Products | Wallpaper, home furnishings |
Number of employees | 1,500 (at collapse) |
| Parent | CWV Ltd (current owner) |
Coloroll is a wallpaper brand based in the United Kingdom and is currently owned by CWV Ltd.
The company traces its origins to a family-run wallpaper manufacturer established in the 1970s. During the 1980s, Coloroll Group emerged as a prominent publicly traded entity in the home furnishings sector but ultimately collapsed in 1990 due to overwhelming debt. Out of the ten brands that survived this downfall, nine remain active today.
Foundation
The Gatward family launched the business in 1970 initially producing printed paper bags. Under the direction of marketing manager John Bray, the firm transitioned into wallpaper production. Designers John Wilman and Linda Beard created collections influenced by Welsh businesswoman Laura Ashley. To facilitate international expansion, Bray appointed John Ashcroft—formerly with rival Crown Wallpaper—as export manager.
Coloroll Group
In 1981, John Ashcroft assumed the role of managing director and subsequently purchased the company from the Gatwards and Bray in 1984.
Ashcroft’s approach involved extending the Wilman and Beard designs into comprehensive home furnishing ranges, enabling coordinated collections for entire homes. Following a public listing in 1985, supported by significant shareholders such as Scottish Amicable Life Assurance pension funds and British Coal, the company invested £420 million over five years to acquire various businesses, including £16 million dedicated to US acquisitions, fulfilling its strategic objectives.
Amongst the acquired brands were:
- Alexander Drew (printing)
- Burlington Wallcoverings (later divested to Graham & Brown)
- Denby Pottery Company
- Edinburgh Crystal
- Kosset Carpets
- Royal Winton
- Staffordshire Potteries Ltd (disposed of during the 1990 collapse under the name Staffordshire Tableware)
- William Barrett Group (furniture; subsequently sold to property developers with assets taken over by Hampson Industries)
- Edward Fogarty (supplier of duvets and pillows)
- Walmates Vinyl (US-based wallpaper manufacturer)
Collapse
In 1988, Coloroll acquired John Crowther, a clothing and carpet conglomerate, for £215 million; however, integration remained incomplete. This deal included London hatters Herbert Johnson, which was later divested through a management buyout to the Response Group. To generate liquidity, US wallpaper operations were sold off in 1989.
By 1990, an audit disclosed group liabilities amounting to £350 million. Potential purchaser Candover Investments withdrew when debts escalated close to £500 million.
In June 1990, following requests from lending banks, Ernst & Young were appointed receivers by the High Court. Within six months, eight management buyouts took place alongside two additional business sales, including one to Blackburn-based Graham & Brown. Approximately 1,500 employees working in units that could not be sold were made redundant. Less than half of the £200 million owed was recovered; lead lender NatWest faced a £25 million loss. Swedish investors Mercurius and Proventus each lost their full investments of £2.3 million.
External links
- Manufacturing firms founded in 1970
- British brand names
- United Kingdom design firms
- Wallpaper producers
- Companies formerly traded on the London Stock Exchange
- Design firms established in 1970
- 1970 establishments in England
- Design firms closed in 1990
- Manufacturing firms closed in 1990
- 1990 closures in England
- Design companies disestablished in 1990