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cotswoldCoNorwich
The Cotswold Company's Norwich showroom
Furniture retailer The Cotswold Company has acquired intellectual property belonging to failed cabinet furniture retailer Oak Furniture Solutions.

 

It has paid an as-yet-undisclosed sum to mop up assets such as the website domain name of the retailer, which ceased trading and entered administration back in January.


The Cotswold Company is not thought likely to use the Oak Furniture Solutions domain or brand itself in the near-term, but the deal does prevent others from doing so.


Oak Furniture Solutions, which for a period was generating annual sales of nearly £11 million, carried oak and painted furniture ranges that competed with part of The Cotswold Company's product offer.


Based in Norwich, VC-backed The Cotswold Company also owns the Pine Solutions brand, which it phased out and merged into its flagship business last year after previously operating both labels online side-by-side.


David Kirk and Lisa Thomas of provincial insolvency outfit Kirks were appointed joint administrators of Contemporary Oak Furniture, the company behind the Oak Furniture Solutions business, on January 30, with rising online marketing costs blamed for its failure.


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