Floors-2-Go has scaled back its expansion plans as it takes a cautious approach to store openings amid the downturn.

The 75-store flooring retailer, bought out of administration by its founders in August, had planned to open up to 40 stores a year but has slashed that to 15 to 20.

Director Michael Coleman, one of the founders along with brothers Robert and Richard Hodges, said he is taking a “sensible and conservative” approach to expansion.

Coleman explained: “We’re cutting back at the moment. If the stabilising of the market continues, which we think it may do, we’ll review this as time goes on.”

He said sales are “keeping up” but added that “if people aren’t moving they’re improving and we’re seeing the benefits of that”.

However, Coleman said: “Christmas was terrible, but January going forward was very good. I can’t pretend the market is flying, but we’re getting the best out of it we can.”

The retailer’s other fascia, Floor My Home, which the three founders set up after leaving Floors-2-Go, has been converted into Floors-2-Go stores and it also has a Tiles-2-Go shop in Birmingham.

The retailer pulled its Christmas ad campaign in “anticipation” of a worsening retail climate, but reinstated its marketing push in the new year.