Deals, Finance & Restructuring
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- BEDS & MATTRESSES
Unsecured creditors of the historic former Silentnight entity whose assets were sold to a U.S. private equity company more than a decade ago received a third seven-figure payout last year.
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- SUPPLY & WHOLESALE
Restructuring advisors handling the insolvency of Kettle Interiors U.K. say legal action may be necessary to facilitate the collection of a portion of the furniture wholesale company's debtor book.
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- CASE GOODS
The closure of a flatpack furniture maker earlier this year has resulted in the liquidation of a co-controlled ecommerce retail business trading as Devoted2Home.
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- ECOMMERCE
The insolvent restructure that wiped out the equity interest of the founder of ecommerce retailer Oak Furniture Superstore has resulted in elevated stakes for other shareholders, including the founder of Oak Furnitureland.
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- RETAIL & DISTRIBUTION
Third-party investors have taken a multi-million pound minority equity position in Neptune, the Wiltshire headquartered furniture design, wholesale and retail group.
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- REGIONAL
The co-owner of the furniture company behind The Interior Outlet retail store in Yorkshire says a variety of factors resulted in its insolvency including unresolved issues in its supply chain.
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- LEGAL & RESTRUCTURING
A court filing has put creditors of a heritage producer and distributor of table, dining and homeware products on high alert ahead of a possible insolvent restructure.
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- DEALS & FINANCE
Global supply chain delays ratcheted up the pressure on mattress machinery maker MPT Group ahead of an insolvent restructure that has seen all jobs saved.
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- RETAIL & DISTRIBUTION
The leader of Tempur Sealy International (TSI) says the takeover of U.K. market leader Dreams augurs well for the much-larger planned acquisition of its compatriot retailer Mattress Firm in a deal worth $4 billion.
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- DEALS & FINANCE
The md of the Yorkshire distribution company that bought the Corian solid surface material to the U.K. home furnishings market has completed a management buyout.
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- BEDS & MATTRESSES
Tempur Sealy International (TSI), the world's largest bedding company and owner of U.K. bed market leader Dreams, has agreed to acquire Mattress Firm, the largest bed retailer in the U.S., in a cash and shares deal worth $4 billion.
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- DEALS & FINANCE
Gallery Direct has expanded its home accents business with the acquisition of Art Marketing, a wall art, clocks and photo frames supplier. The Kent company has also announced a management reorganisation that will see md Peter Delaney take on a new brief.
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- LEGAL & RESTRUCTURING
Consumer creditors and the tax authorities are the biggest losers from the fallout of the closure of an award-winning Yorkshire kitchen vertical that had built its ethos around sustainable design and manufacturing.
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- CASE GOODS
Gola Wood Works, a cabinet furniture company registered at Downpatrick, County Down, has been placed into administration through restructuring advisors at KPMG.
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- SUPPLY & WHOLESALE
Restructuring advisors trying to recoup funds for the estate of an insolvent cabinet furniture retail business could result in a non-trading property company being placed into administration.
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- UPHOLSTERY
A Scotland based ecommerce trader has become the latest supplier of upholstery to fall foul of the U.K. flammability regulations with four of its models said to present a serious fire risk.
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- BEDS & MATTRESSES
Google and HM Revenue & Customs stand to lose most from the insolvency of the company that until a few days ago ran the Divan Bed Warehouse ecommerce mattress and bedding retail business.
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- BEDS & MATTRESSES
Ecommerce retailer Divan Bed Warehouse is now trading through a different corporate structure after a tax demand from HM Revenue & Customs prompted a predecessor operating company to enter liquidation.
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- BEDS & MATTRESSES
Industrial conglomerate Recticel says foam company Carpenter has communicated its intent to pay less than had been previously agreed to acquire its Engineered Foams business.
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- RETAIL & DISTRIBUTION
Sharps continued to generate high adjusted profits according to new figures that concurrently disclose the terms of the furniture chain's sale to a new private equity backer for the first time.
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- UPHOLSTERY
The Chinese furniture group that acquired Stressless brand owner Ekornes in a highly-leveraged buyout back in 2018 has introduced a new private equity minority shareholder as part of a refinancing of the Norwegian company.
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- DEALS & FINANCE
The group behind prestige Italian furniture brands including Gervasoni, Gamma Arredamenti and Meridiani is planning to raise acquisition capital with an initial public offering (IPO) on Milan's Euronext exchange.
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- RETAIL & DISTRIBUTION
The audit of the accounts of Made.com Group in the year before the defunct furniture retailer collapsed into administration is to be investigated by the accounting watchdog.
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- RETAIL & DISTRIBUTION
Fears voiced by restructuring advisors last year that creditors of the now-closed retailer Manns of Cranleigh wouldn't see a 100 percent dividend have proven unfounded after a multi-million pound property deal completed.
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- FLOORCOVERINGS
A multi-showroom London floorcoverings company has put creditors on alert after it filed a notice of intent to appoint an administrator (NOI).
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- BEDS & MATTRESSES
Sleep Country Canada has agreed to buy the Canadian assets of Casper Sleep, the U.S. bed-in-a-box brand often cited as the pioneer in the product category.
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- TRADE & INDUSTRY
2024 INDX show dates; Why Rowico U.K. had to close; Recticel updates on the sale of Engineered Foam unit; and Dreams plan to raise cash for homelessness charity Shelter.
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- TRADE & INDUSTRY
The number of furniture, furnishings and floorcoverings companies filing for insolvency reached record high levels in the first quarter of 2023.
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- CASE GOODS
Restructuring advisors handling the insolvency of Kettle Interiors U.K. have enlisted agents to sell a substantial quantity of cabinet furniture that was not included as part of the asset sale agreement with newco Kettle Home.
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- RETAIL & DISTRIBUTION
Privately-owned bed retailer Mattressman has successfully completed the company voluntary arrangement (CVA) it agreed with creditors back in 2018.
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- SUPPLY & WHOLESALE
Restructuring advisors say they accepted the offer from newco Kettle Home for the assets of Kettle Interiors U.K. only yesterday (Mar. 29, 2023) after what it described as an open marketing process that attracted significant interest from here and abroad.
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- SUPPLY & WHOLESALE
Newly-formed company Kettle Home is the new owner of assets including intellectual property and inventory after wholesaler Kettle Interiors U.K. was placed into administration last Friday.
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- RETAIL & DISTRIBUTION
General merchandise retailer Next has made a debt investment in furniture and homeware retailer Swoon Editions, expanding on a minority equity position built last year.
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- SUPPLY & WHOLESALE
Furniture wholesaler Kettle Interiors U.K. has been placed into administration with all 126 of its employees made redundant, restructuring advisors have confirmed.
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- ECOMMERCE
The managed wind down at South Yorkshire ready-to-assemble cabinet manufacturer Addspace Furniture has had knock-on effects for a co-controlled ecommerce retailer.
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- SUPPLY & WHOLESALE
Stakeholders in wholesaler Kettle Interiors U.K. are working to complete a restructuring process that will secure the future of the Corby based furniture supplier.
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- RETAIL & DISTRIBUTION
The takeover of Scotts by WoolOvers Group will yield more than £3.5 million for creditors though that won't be nearly enough to satisfy the mail-order retailer's outstanding liabilities.
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- FLOORCOVERINGS
A South East floorcoverings supplier filed a second notice of intent to appoint an administrator on Tuesday as stakeholders closed in on an apparent restructure.
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- RETAIL & DISTRIBUTION
Creditors of Mark Harris Furniture, the furniture wholesale and retail company whose assets were sold via a prepack buyout last month, were owed more than £14 million at the time of the restructure.
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- SUPPLY & WHOLESALE
Sanderson Design Group says it is committed to protecting its interests ahead of a hearing next month regarding an intellectual property dispute with Waltham Forest Council.
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