Tuesday, March 31, 2020
COVID-19 / CORONAVIRUS
TOP STORIES
Private investor completes The Conran Shop takeover
A serial investor in consumer brands has completed a buyout of high-end furniture and lifestyle retailer The Conran Shop, bringing an end to 47 years in charge for its founder.
Sub-prime furniture and electricals chain BrightHouse in administration
Embattled weekly payments furniture and electricals retailer BrightHouse has been placed into administration, putting 240 stores and 2,400 jobs at risk.
The Original Bed Co. expands into German market
British bed and mattress vertical The Original Bed Co. is to launch into mainland Europe with the introduction of a dedicated German sales channel.
Big-ticket confidence index sank to 17-month low ahead of lockdown
Consumers were already minded to tighten the purse strings for high-value items like furniture ahead of the nationwide lockdown imposed by the Government a week ago, new data reveals.
La-Z-Boy senior management take 50% pay cut
Upholstery manufacturing giant La-Z-Boy has taken steps to conserve cash including salary cuts and the furloughing of thousands of employees worldwide.
Six-figure profits for 13-store upholstery retailer
National upholstery retailer Sofas & Stuff celebrated a decade in business last year, expanding its showroom network and booking six-figure profits.
Owner of DFS, Bensons for Beds and Harveys properties agrees rent deferral
One of the U.K.'s largest retail park landlords says it has taken steps to support customers who are being hardest hit by the Covid-19 pandemic.
BFC asks Chancellor to support furniture manufacturers
Chancellor of the Exchequer Rishi Sunak has been urged not to forget furniture manufacturers when evaluating state support for U.K. industry amid the coronavirus pandemic.
China International Furniture Fair pens in new summer dates
The organiser of the China International Furniture Fair (CIFF) has rescheduled the dates of its postponed spring exhibitions.
Three-store Scottish interior fabrics retailer folds
A Glasgow based upholstery, window-dressings and interior fabrics retailer has been placed into administration after closing its three stores and ceasing trading a week ago.
Bed giant Hilding Anders pivots to manufacturing surgical masks
The Swedish beds manufacturing conglomerate that lists British bedroom chain Feather & Black among its interests has re-platformed some of its manufacturing operations to help battle the coronavirus pandemic.
Pandemic does not pose existential threat says flooring company
Victoria, the diversified flooring producer and distributor with operations in multiple countries worldwide, says it can survive even the most severe scenarios presented by the coronavirus pandemic.
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:
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UK production
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Imports
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Exports
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Key Trading Partners
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Total UK market size
BEST READ IN THE PAST MONTH
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Uncertainty proves drag for Stressless in the U.K. market
The Norwegian recliner giant behind the Stressless brand endured Brexit-related headwinds in the U.K. and Ireland market last year but sales in reporting currency were still close to flat.
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Whiff of change blows through Heal's flagship London store
Heal's, the swish contemporary furniture and home accents retailer, has remodelled the ground floor of its flagship London store on Tottenham Court Road.
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Maisons du Monde quantifies impact of China supply chain disruption on top line
Maisons du Monde, the French furniture retailer that closed its four Debenhams concessions in the final part of last year, says it is expecting up to a mid single-digit top line decline because of...
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Rout of furniture equities continues with DFS shares at lowest level since stock market return
The value of furniture stocks fell sharply Thursday as markets reacted to the escalating coronavirus pandemic. Upholstery rivals DFS and ScS — the U.K.'s two most prominent listed furniture...
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Bensons for Beds owner said to be seeking quick sale
Alteri Investors has appointed advisors to run an accelerated auction process of beds and furniture chains Bensons for Beds and Harveys, Sky News reported over the weekend.
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:
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UK retail sales value and y/y delta. Monthly and annual
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Breakdown by product category
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Historical data
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Monthly and annual figures
OPINION & ANALYSIS
Online and deliveries: Furniture retailers diverge in approach
With furniture stores shut for at least three weeks because of the coronavirus pandemic, taking payments online and the delivery of outstanding orders represent retailers' only opportunity to generate income.
Britain prepares to become a nation of (Internet) shopkeepers
Few U.K. furniture retailers have yet closed their doors in response to the coronavirus pandemic but by now there cannot be a single one in the country that has not contemplated that prospect, enforced or otherwise.
The furniture industry braces itself for disruption and change
At the end of January I wrote an article about the strength of Britain's independent furniture retail sector, underscoring the cash-rich nature of some of its companies.
DFS delivers a canary in the coalmine for rest of U.K. furniture trade
DFS says production volumes in China are increasing again after the coronavirus outbreak temporarily brought factories to a halt. But it cautioned it could face disruption elsewhere, including at its own U.K. operation.
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Donate Your PPE
Furniture manufacturers, do you have supplies of Personal Protective Equipment (PPE)? Help the NHS.
More Information
DATA & LISTS
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Corporate Insolvency: Filings in the week to March 27, 2020
One insolvency from within the furniture and furnishings industry was announced in the period from March 21–27, 2020.
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Debt Report: Creditors owed £10k plus from insolvency industry companies: March 27, 2020
Today's list contains seven insolvent companies leaving combined debts of c. £1.3 million. Names all c. 25 creditors owed £10,000 or more.
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The Insolvency Report: Appointments in the week to March 20, 2020
Nine insolvencies from within the furniture and furnishings industry were announced in the period from March 15–20, 2020.
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Debt Report: Companies owed £10k+ from insolvent furniture and furnishings companies: Mar. 20, 2020
Today's list contains five insolvent companies leaving combined debts of c. £2.0 million. Names all c. 20 creditors owed £10,000 or more.
TOP STORIES
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Private investor completes The Conran Shop takeover
A serial investor in consumer brands has completed a buyout of high-end furniture and lifestyle retailer The Conran Shop, bringing an end to 47 years in charge for its founder.
-
Sub-prime furniture and electricals chain BrightHouse in administration
Embattled weekly payments furniture and electricals retailer BrightHouse has been placed into administration, putting 240 stores and 2,400 jobs at risk.
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Manchester Furniture Show organisers react to venue becoming NHS Nightingale hospital
Organisers of the U.K.'s leading summer trade furniture exhibition says they "fully support the need to prioritise the greater good" as the event venue was named a temporary NHS field hospital. Preparations for the July furniture event continue.
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One-time 19-store furniture retailer Lombok tumbles into administration
Lombok, the mid-high end East-inspired furniture retailer, has been placed into administration for the third time. Insolvency professionals hope to find a buyer for the brand and other intellectual property.
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Salone del Mobile in Milan cancelled until 2021
Organisers of the Milan furniture fair (Salone del Mobile) have cancelled the rescheduled exhibition. It will now not take place at all in 2020.
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John Lewis, Conran Shop among diminishing few still delivering furniture
The number of retailers still delivering bulky furniture goods amid the coronavirus pandemic continues to fall, though some are sending delivery crews out to customers homes with heightened safety measures in place.
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NBF, BFC seek clarification on whether rates relief will extend to factories
The National Bed Federation (NBF) and the British Furniture Confederation (BFC) are working together to provide clarity to industry over the support package available to businesses impacted by the coronavirus pandemic.
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New CEO at U.K.'s second largest bed maker; 2018–19 numbers
James Keen will this spring become the new chief executive officer at privately-owned bed manufacturer Hypnos, succeeding Stephen Ward who is retiring after 13 years in the role. His appointment was announced as 2018–19 figures became available.
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Government wants lowdown on biggest issues facing U.K. furniture makers amid pandemic
BFM, the association for British Furniture Manufacturers, wants members to make contact to highlight the biggest issues they face because of the coronavirus pandemic after a Government call to arms.
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DFS defers six planned store openings, outlines cash impact of temporary closure
DFS says it has put the brakes on almost all spending and has spelled out the cash impact of the enforced closure of its operations, saying it will cost the business millions of pounds each month.
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OTHER NEWS
The Original Bed Co. expands into German market
British bed and mattress vertical The Original Bed Co. is to launch into mainland Europe with the introduction of a dedicated German sales channel.
Big-ticket confidence index sank to 17-month low ahead of lockdown
Consumers were already minded to tighten the purse strings for high-value items like furniture ahead of the nationwide lockdown imposed by the Government a week ago, new data reveals.
La-Z-Boy senior management take 50% pay cut
Upholstery manufacturing giant La-Z-Boy has taken steps to conserve cash including salary cuts and the furloughing of thousands of employees worldwide.
Six-figure profits for 13-store upholstery retailer
National upholstery retailer Sofas & Stuff celebrated a decade in business last year, expanding its showroom network and booking six-figure profits.
Owner of DFS, Bensons for Beds and Harveys properties agrees rent deferral
One of the U.K.'s largest retail park landlords says it has taken steps to support customers who are being hardest hit by the Covid-19 pandemic.
BFC asks Chancellor to support furniture manufacturers
Chancellor of the Exchequer Rishi Sunak has been urged not to forget furniture manufacturers when evaluating state support for U.K. industry amid the coronavirus pandemic.
China International Furniture Fair pens in new summer dates
The organiser of the China International Furniture Fair (CIFF) has rescheduled the dates of its postponed spring exhibitions.
Three-store Scottish interior fabrics retailer folds
A Glasgow based upholstery, window-dressings and interior fabrics retailer has been placed into administration after closing its three stores and ceasing trading a week ago.
Bed giant Hilding Anders pivots to manufacturing surgical masks
The Swedish beds manufacturing conglomerate that lists British bedroom chain Feather & Black among its interests has re-platformed some of its manufacturing operations to help battle the coronavirus pandemic.
Pandemic does not pose existential threat says flooring company
Victoria, the diversified flooring producer and distributor with operations in multiple countries worldwide, says it can survive even the most severe scenarios presented by the coronavirus pandemic.