Deals, Finance & Restructuring
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- RETAIL & DISTRIBUTION
The owner of Sofa.com and House of Fraser has added value retailer Studio to its roster of retail brands after cutting a deal with restructuring advisors and the ecommerce brand's creditors.
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- RETAIL & DISTRIBUTION
Ecommerce retailer Studio Retail Group (SRG) has been formally placed into administration with restructuring advisors in advanced talks regarding the sale of its business and assets.
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- RETAIL & DISTRIBUTION
A £150 million TV shopping network that sells home products ranging from branded mattresses to leather recliners has been sold by its German investment group owner after earlier court filings indicated it was under financial pressure.
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- DEALS & FINANCE
Kitchen giant Howden Joinery Group (Howdens) has acquired Sheridan Fabrications, a circa £30 million maker and supplier of high-end solid surface worktops.
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- RETAIL & DISTRIBUTION
Value retailer Studio Retail Group (SRG), which carries extensive furniture and mattress lines among a comprehensive home offer, says it intends to file a notice of its intention to appoint administrators.
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- DEALS & FINANCE
Tiles, wood flooring, bathroom and decorating retailer Fired Earth has exited a company voluntary arrangement (CVA) process after its new owner made a one-off contribution in full and final settlement of its obligations.
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- ECOMMERCE
The business and assets of a company behind brands including the Trueshopping garden, leisure and lighting website have been sold to a £22 million turnover Nottinghamshire retail and manufacturing group.
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- RETAIL & DISTRIBUTION
Privately-owned department store retailer Fenwick is said to be exploring the sale of its iconic Bond Street store in central London, according to weekend press reports.
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- LEGAL & RESTRUCTURING
Restructuring advisors are looking to sell assets including IP and stock of a £2 million turnover Bradford-based online furniture retailer that has ceased trading.
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- BEDS & MATTRESSES
Ticking supplier BekaertDeslee says it has become the leading mattress fabric supplier in North America after it completed the takeover of Canada-based Maxime Knitting.
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- BEDS & MATTRESSES
Longtime Silentnight owner H.I.G Capital sold Britain's largest bed manufacturer to a different fund under common control last year as part of a corporate reorganisation that saw it concurrently refinance its debts.
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- BEDS & MATTRESSES
Britain's largest bed manufacturer Silentnight has revealed the financial impact of the ending of its longstanding licensing arrangement with the Sealy brand.
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- REGIONAL
Restructuring advisors have written to creditors of a now-closed heritage furniture, flooring and department store business saying it may be necessary to revise the terms of a company voluntary arrangement (CVA) agreed just over a year ago.
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- DEALS & FINANCE
Yorkshire based ceramic, stone and timber flooring supplier Verona Group is now wholly-owned by the same investment company as retail chain Tile Giant after Travis Perkins disposed of its shares.
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- SUPPLY & WHOLESALE
The Swedish investment group that acquired U.K. furniture wholesaler Julian Bowen last year has tapped debt investors for more cash to fund further buyouts.
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- DEALS & FINANCE
More details on late 2021 buyout of remaining shares in upmarket interior design and furniture retail company.
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- SUPPLY & WHOLESALE
Fast expanding floorcoverings distributor Likewise Group has completed its previously signposted takeover of Valley Wholesale Carpets and installed a longtime industry executive to run the business.
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- LEGAL & RESTRUCTURING
The future of garden, outdoor leisure, lighting and home ecommerce brand True Shopping (trueshopping.co.uk) is uncertain after restructuring advisors were drafted in to run its operating company.
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- DEALS & FINANCE
Nobia, the kitchen manufacturing and retail conglomerate and owner of British kitchen chain Magnet, has agreed to buy Superfront, a Sweden-based direct-to-consumer business that already sells to U.K. buyers.
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- BEDS & MATTRESSES
Legislators have criticised a leading accountancy body after it confirmed the £13 million fine handed to KPMG for its conduct in the sale of Silentnight a decade ago will not be used to compensate pensioners impacted by its insolvent restructure.
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- TRADE & INDUSTRY
Furniture, flooring and furnishings insolvencies jumped both sequentially and on an annual basis in the final quarter as state support measures such as the furlough scheme were brought to an end.
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- DEALS & FINANCE
Pan-European ecommerce-led furniture retailer Home24 has agreed to buy direct-to-consumer home accessories chain Butlers in a move that diversifies its product offer and expands its physical store footprint.
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- BEDS & MATTRESSES
Liquidators finalising the affairs of a mattress company that filed for bankruptcy late 2020 owing millions to creditors say a number of matters warrant further investigation.
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- DEALS & FINANCE
3G Capital, a global investment firm and private partnership, is to acquire a controlling stake in Netherlands based furnishings conglomerate Hunter Douglas, owner of multiple U.K. companies including window dressings giant Hillarys.
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- UPHOLSTERY
Large upholstery retail warehouse Vine Mill Furniture is clearing stock ahead of its planned closure with owners instead to focus on the group's wholesale operations supplying other companies.
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- DEALS & FINANCE
Recticel shareholders have green-lighted the disposal of the company's mattress division to Aquinos, the Portuguese upholstery and bedding manufacturing conglomerate.
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- RETAIL & DISTRIBUTION
The Weston family have confirmed plans to sell retail group Selfridges to a joint venture between Thai conglomerate Central Group and Austrian property company Signa.
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- RETAIL & DISTRIBUTION
International furniture brand Timothy Oulton has in the past few days expanded its London store footprint with the opening of two further showrooms while its eponymous owner is now majority shareholder in Andrew Martin International, the high-end retail and wholesale company.
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- LEGAL & RESTRUCTURING
The near term future of a decades-old furniture retailer that once traded from six South East stores is secure after a rescue buyout immediately after its predecessor company was placed into administration.
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- REGIONAL
Staff at Oldrids of Scunthorpe are said to be advising customers of the department store's planned permanent closure early in the new year.
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- MANUFACTURING
Foam and industrials group Greiner is for now pressing ahead with plans to acquire what will remain of Recticel even though the Belgian company has agreed deals to dispose of two sizeable chunks of its business.
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- DEALS & FINANCE
Furniture company Fritz Hansen has acquired Skagerak Denmark in a deal that takes the design group into the outdoor furniture market for the first time.
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- DEALS & FINANCE
Challenger flooring wholesale group Likewise is to make its biggest acquisition yet after lining up a deal for one of the U.K.'s largest family-owned flooring companies.
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- DEALS & FINANCE
Italian Design Brands (IDB), a private equity backed collective of high-end furniture and interiors companies that launched a U.K. arm this year, has acquired a minority stake in Axolight, an Italian lighting supplier.
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- SUPPLY & WHOLESALE
Recticel has cranked up the pressure on shareholders to back the sale of its engineered foams business to Carpenter Co, saying the plan has the backing of independent advisory firms.
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- BEDS & MATTRESSES
A €370 million turnover upholstery and bed manufacturing group has agreed to buy Recticel's Bedding division, which makes finished mattresses and bed frames primarily sold into mainland European markets.
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- RETAIL & DISTRIBUTION
Maisons du Monde has agreed to sell the bulk of its shareholding in U.S. furniture retailer Modani saying it intends to throw itself fully at its European markets instead.
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- FLOORCOVERINGS
Flooring supply group Victoria is adding further ceramic tile capacity with the acquisition of B3 Ceramics Danismanlik, a Turkey based manufacturer and exporter trading as Graniser.
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- TRADE & INDUSTRY
The year-on-year number of U.K. home furnishings companies that appointed insolvency practitioners was flat in the third quarter of 2021, though the figure crept higher on a sequential basis.
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- SUPPLY & WHOLESALE
A simple majority is all that is required for shareholders to approve the sale of Recticel's Engineered Foam unit to U.S. giant Carpenter.
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