Founded 1981 | ||
Famous Army Stores Ltd. was a major independent retailer of camping equipment, outdoor clothing footwear and army surplus. It was established as a limited company in 1981 but had been trading since the 1940s. It was based in Garston, Liverpool,
The company had been founded in the 1940s by the well known Wilson family of Liverpool, whose business interests also included Limocoat, Cathedral Touring Agency, and Starways Airline. Highpoint Trading was the parent company for Famous Army Stores and Limocoat.
In 1996 a management buy-out was carried out by Financial Director, Graham Smith and two colleagues. The chain then rapidly grew from 100 stores to 200 in an amazing change of fortune with a turnover of £50 million and profits of £2.2 million in 1998. Foot and mouth disease and mismanagement plunged the once profitable business into severe debt with losses approaching £2.1 million for 2001. When the company's bankers cancelled their overdraft facility, the company was forced into administration.
The preferred bidder and eventual owner, Blacks Leisure Group (Blacks), acquired 47 stores and all of the stock for £1.7 million. While Blacks retained all of the staff from the 47 stores, most of the managers left the business as the stores' brands were changed to Millets or Blacks.