Tuesday, December 6, 2022
Furniture retailer owners won't call in £58m debt if trade under threat
Loan note holders have agreed not to seek the repayment of tens of million of pounds of debt due from The Cotswold Company should doing so be prejudicial to the furniture retailer's ongoing prospects.
ADVERTISEMENT
Restructuring advisors carve out furniture and home retailer Garden Trading
The Garden Trading Company, the ecommerce and wholesale furniture, home and garden company, was not sold to general merchandise giant Next as part of the £41 million buyout of Joules Group assets and its headquarters last week.
Margins narrow for Batley bed maker
The manufacturing and import company behind the Bedmaster brand booked lower profits last year despite a rise in sales.
Online homeware and textiles specialist folds leaving £1.3m debts
A Staffordshire ecommerce business majoring in screen printed household textiles and other homewares has been placed into liquidation leaving creditors facing a seven-figure shortfall.
ScS begins CFO search as Muir signposts intent to step down
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
Sales, profits jump for sofa fabrics wholesaler
Upholstery and curtain fabrics wholesaler Fryett's booked larger profits through 2021/22 as the easing of Covid restrictions aided demand for its products.
Sofa brand Snug launches any-size modular programme
Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
Next pays £41m for Joules Group assets and HQ
General merchandise retailer Next has partnered Tom Joule to acquire the majority of the assets of lifestyle brand Joules out of administration in two transactions worth a total of £41 million.
Flooring distributor maintains upwards sales momentum
Revenue continued to trend upwards for Likewise Group during mid–late autumn as growth accelerated for the floorcoverings supplier through October and November.
Bed spring maker says new sustainable glue tech will improve recyclability
Spring maker Wolf Components will assemble its pocket units utilising polymer-based glue from the start of 2023 in a move it says will deliver significant recyclability improvements.
Delivery company files notice of intent to appoint administrators
A South East courier company offering next-day parcel delivery including bulky items such as furniture flatpacks has filed a notice of intent (NOI) to appoint administrators.
INTELLIGENCE
Market Data
Detailed market information about each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors at suppliers' prices.
Discover the up-to-date value of:
-
UK production
-
Imports
-
Exports
-
Key Trading Partners
-
Total UK market size
BEST READ IN THE PAST MONTH
-
Mattress imports up for eleventh straight month
Emerging manufacturing markets helped mattress imports into the U.K. continue to rise in September despite weaker figures from more established sources.
-
Regulator approves Recticel takeover on proviso U.K. foam business is sold
U.K. sofa and bed makers will continue to be able to buy foam from three major sources after the regulator here agreed Carpenter could buy Recticel's engineered foam unit, but only if the bulk of...
-
Furniture retailer Cookes builds cash and underlying profits
Underlying profits almost doubled for independent furniture retailer Cookes in the year to end March as the privately-owned group made gains across both its retail and storage businesses.
-
External unsecured creditors of Made.com owed nearly £100m
Preferential and secured claims from U.K. tax authorities and lender Silicon Valley Bank are expected to be repaid in full following the collapse of Made.com, but other creditors face a significant...
-
There will be no online sales tax for retailers, Government says
The Government has decided not to introduce an online sales tax as part of wider business rates reform in a move that will disappoint some brick-and-mortar retailers and high street evangelists.
INTELLIGENCE
Retail Sales
Up-to-date monthly UK retail sales data spanning total furniture and lighting sales PLUS detailed breakdowns for each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors.
Proprietary granular data covering:
-
UK retail sales value and y/y delta. Monthly and annual
-
Breakdown by product category
-
Historical data
-
Monthly and annual figures
DATA & LISTS
-
Analysis: Sterling reaps reward from near £7m two-year capex
The furniture market has softened through 2022 but smart retailers have managed to both build liquidity while continuing to invest in their businesses.
-
Insolvencies & closures: Filings in the week to Dec. 2, 2022
15 companies were either closed or filed for insolvency in the past seven days.
TOP STORIES
-
Furniture retailer owners won't call in £58m debt if trade under threat
Loan note holders have agreed not to seek the repayment of tens of million of pounds of debt due from The Cotswold Company should doing so be prejudicial to the furniture retailer's ongoing prospects.
-
Sterling profits hit 24 year high as investment delivers
Privately-owned furniture and home retailer Sterling booked its biggest bottom line since 1998 in the year to February 28, 2022 as it benefitted from investment in stores and post-lockdown tailwinds.
-
Sofa.com owner rescues luxury homeware brand Amara
Frasers Group, owner of House of Fraser and Sofa.com, has acquired upmarket homewares brand Amara in a deal brokered by restructuring advisors.
-
Fitted furniture group pays £13m in dividends to shareholders
The private equity backed group that owns custom fitted furniture maker Neville Johnson paid eight-figure dividends to shareholders in a period when it agreed extended borrowing and saw trading profits fall.
-
Mattress brand Emma faces probe from U.K. antitrust regulator
Direct-to-consumer and wholesale mattress company Emma Sleep is being investigated by the U.K.'s antitrust regulator over concerns some of its online sales practices may have breached consumer law.
OTHER NEWS
Restructuring advisors carve out furniture and home retailer Garden Trading
The Garden Trading Company, the ecommerce and wholesale furniture, home and garden company, was not sold to general merchandise giant Next as part of the £41 million buyout of Joules Group assets and its headquarters last week.
Margins narrow for Batley bed maker
The manufacturing and import company behind the Bedmaster brand booked lower profits last year despite a rise in sales.
Online homeware and textiles specialist folds leaving £1.3m debts
A Staffordshire ecommerce business majoring in screen printed household textiles and other homewares has been placed into liquidation leaving creditors facing a seven-figure shortfall.
ScS begins CFO search as Muir signposts intent to step down
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
Sales, profits jump for sofa fabrics wholesaler
Upholstery and curtain fabrics wholesaler Fryett's booked larger profits through 2021/22 as the easing of Covid restrictions aided demand for its products.
Sofa brand Snug launches any-size modular programme
Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
Next pays £41m for Joules Group assets and HQ
General merchandise retailer Next has partnered Tom Joule to acquire the majority of the assets of lifestyle brand Joules out of administration in two transactions worth a total of £41 million.
Flooring distributor maintains upwards sales momentum
Revenue continued to trend upwards for Likewise Group during mid–late autumn as growth accelerated for the floorcoverings supplier through October and November.
Bed spring maker says new sustainable glue tech will improve recyclability
Spring maker Wolf Components will assemble its pocket units utilising polymer-based glue from the start of 2023 in a move it says will deliver significant recyclability improvements.
Delivery company files notice of intent to appoint administrators
A South East courier company offering next-day parcel delivery including bulky items such as furniture flatpacks has filed a notice of intent (NOI) to appoint administrators.