Deals, Finance & Restructuring
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- DEALS & FINANCE
Maker&Son, the heavily-backed direct-to-consumer furniture brand previously cited as an emerging threat by major U.K. retail chains after a growth spurt during the pandemic, could soon change hands.
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- DEALS & FINANCE
The owners of motion beds and upholstery group Furmanac say the West Midlands manufacturer will be a stronger business as a result of a planned corporate restructure.
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- TRADE & INDUSTRY
Online interior design platform My Bespoke Room saw a big downturn in demand ahead of a cut-price deal to sell the business to an emerging property portal late May.
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- LEGAL & RESTRUCTURING
The owners of a London based interior design group providing retail and design services to private clients across the world have reorganised through a newly-incorporated company.
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- RETAIL & DISTRIBUTION
The creation of a new 50/50 joint venture that sees one of the world's largest furniture retailers further expand its store footprint across Europe has been waved through by antitrust regulators.
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- BEDS & MATTRESSES
Heritage bed manufacturer Millbrook Beds has new owners after the founding Croll family agreed to sell the Southampton manufacturer to concentrate on their other expanding business interests.
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- SUPPLY & WHOLESALE
Stakeholders have until Monday of next week to come up with a solution that will appease the U.K.'s antitrust regulator.
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- RETAIL & DISTRIBUTION
London based designer furniture and homeware retailer The Conran Shop has received a new seven-figure equity injection.
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- DEALS & FINANCE
Endless, a serial backer and bidder for home interest companies over the past decade, has raised £100 million from investors as it targets a new raft of buyouts.
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- UPHOLSTERY
Creditors have backed a company voluntary arrangement (CVA) that puts an end to a two-year administration process for a one-time £55 million upholstery group.
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- FLOORCOVERINGS
Directors at carpet yarn spinner Lawton Yarns have completed a management buyout (MBO) of the company, ending the two year stint under the ownership of London private equity group Breal Capital.
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- UPHOLSTERY
Man Wah Holdings says the company will appeal after a jury awarded more than $100 million in damages for the alleged infringement of a former supplier's intellectual property. A judge will now decide the actual figure, likely to be a fraction of that amount, pending an appeal.
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- RETAIL & DISTRIBUTION
A prominent U.K. ecommerce sofa retailer is unaffected by the insolvency of the company that operated the brand for almost four years until the beginning of 2022.
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- RETAIL & DISTRIBUTION
A North West wholesale and retail furniture company that traded direct but also sold through major online platform businesses has gone the way of a predecessor operation.
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- LEGAL & RESTRUCTURING
A South East freight forwarding and third-party logistics (3PL) provider has gained a 10-day stay from creditor action after it filed a notice of intent (NOI) to appoint administrators.
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- RETAIL & DISTRIBUTION
Lee Longlands delivered on its pledge to record near seven-figure profits as it fleshed out details from it what it called an extremely positive performance off the back of lockdowns and ahead of it completing a major refinancing solution last June.
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- LEGAL & RESTRUCTURING
Takeover followed winding up petition issued by a timber supplier to the mattress and beds vertical.
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- UPHOLSTERY
Actona has agreed to buy Polish sofa maker SITS in a deal that means the design, wholesale and manufacturing group has added about £180 million in upholstery revenue through acquisitions in the past year alone.
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- UPHOLSTERY
Well-known upholstery industry executive Daniel Feltham-White has acquired sought-after intellectual property of historic retail brand Sofa Workshop.
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- SUPPLY & WHOLESALE
The company that completed an insolvent buyout of a prominent North London furniture wholesaler whose products were sold on platforms such as Wayfair has a new name.
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- REGIONAL
A North West independent retailer with ties to the once-national Durham Pine brand has ceased trading after filing for insolvency late last month following its planned closure.
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- DEALS & FINANCE
A North West based direct-to-consumer manufacturer and retailer of children's mattresses and bedroom furniture lists a new trading entity following the insolvency of its former operating company.
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- DEALS & FINANCE
One of the co-founders of online estate agent Purplebricks who now runs emerging property portal Boomin has acquired My Bespoke Room (MBR), the digital interior design provider that works with a slew of high-profile furniture companies.
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- FURNISHINGS & ACCENTS
The failure of a West London soft furnishings supplier dating back to the mid 1980s leaves creditors facing a large shortfall.
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- CASE GOODS
Restructuring advisors have outlined details of the prepack reorganisation of a circa £1 million Surrey cabinet maker while two other manufacturers—both in the made-to-measure furniture sector—have filed notices of intent to appoint administrators.
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- DEALS & FINANCE
Floorcoverings conglomerate Mohawk Industries has agreed to buy the Vitromex ceramic tile business from Grupo Industrial Saltillo (GIS) in an all-cash deal worth about $293 million (£235m).
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- ECOMMERCE
Furniture retailer SoloMiya has left consumers facing a battle to recover down payments after it collapsed into liquidation. Its failure was confirmed in what was the industry's worst week since the start of the pandemic.
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- RETAIL & DISTRIBUTION
Gillies of Broughty Ferry has strengthened its presence in the North of Scotland with the takeover of independent retailer Grampian Furnishers.
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- DEALS & FINANCE
Design, wholesale and retail group Neptune acquired two of its third-party run branded showrooms during a period when the worst of the Covid-restrictions were coming to a close.
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- RETAIL & DISTRIBUTION
B&M sold its last remaining shares in an Irish bedding retail business at the height of the pandemic in a transaction planned years in advance.
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- BEDS & MATTRESSES
Restructuring advisors have achieved a third substantial return for creditors of the predecessor Silentnight company, more than eleven years after its business and assets were sold in a prepack deal to its current owner.
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- SUPPLY & WHOLESALE
Online vendors offering the goods of a North Yorkshire based wholesaler of occasional furniture and rattan home and garden goods which collapsed earlier this year are clearing the last remaining items from their platforms.
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- RETAIL & DISTRIBUTION
Fallen upholstery retailer Sofa Workshop sustained losses of £5.5 million last year and would have needed even more than that in funding to see out the remainder of 2022, had the plug not been pulled.
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- ECOMMERCE
Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
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- CASE GOODS
Surrey furniture maker moves to South Coast and rebrands while its predecessor operating company was placed into administration earlier this week.
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- DEALS & FINANCE
An online cabinet furniture retailer and wholesaler that booked seven-figure profits in its last financial year has secured external investment into the business.
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- DEALS & FINANCE
The company behind the Houseology and Olivia's furniture and interiors brands has expanded again with the acquisition of a digital marketing agency.
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- BEDS & MATTRESSES
Benelux investment fund chaired by floorcoverings manufacturing scion reallocates shareholdings to newly-created holding company.
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- RETAIL & DISTRIBUTION
Danish furniture chain JYSK will open its 26th U.K. store early next month while Lars Larsen Group, the owner of the global brand, is expanding further its growing roster of retail formats.
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- DEALS & FINANCE
The md of luxury kitchens chain Harvey Jones has led a management buyout that will see an industry return for former Silentnight chairman Adrian Fawcett.
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