old

Birmingham based furniture and flooring retailer NCF Living is targeting new stores on retail parks as it transitions away from the high street, including a first store in London.

 

Besides, the capital, the privately-owned independent will open stores at Milton Keynes and Rugby as part of its plan to trade alongside national comparison goods retailers at out-of-town locations.


It follows the decision to close its smaller high street stores, which was, it says, the reason for revenue falling 18 percent to £9.1 million in the year to March 2017.


Pretax profits fell by a quarter to £783,819 while year-end cash for the company — which has no debt — climbed to £1.2 million (2016: £1.1m).


Besides its three planned new stores, NCF trades from three showrooms in Birmingham, including a flooring store at Perry Barr, along with retail park stores at Derby and Stoke-on-Trent.


The move follows recent consolidation among the retailer's ownership. Statutory filings reveal the business is now 100 percent owned by Sohab Hussain, who formerly held a third of the business along with Nagina Bi and Saber Hussain.