Deals, Finance & Restructuring
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- UPHOLSTERY
Upholstery manufacturer Celebrity Motion Furniture has successfully completed its company voluntary arrangement (CVA) with a better-than-forecast return for its creditors.
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- FLOORCOVERINGS
Manufacturing giant Ulster Carpets will broaden its offer after agreeing to buy Alternative Flooring, the Hampshire based supplier of natural fibre carpets and rugs.
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- RETAIL & DISTRIBUTION
Hundreds of customers of South London bedroom furniture retailer Instrument were owed the thick end of half a million pounds when the business folded earlier this month.
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- FLOORCOVERINGS
Dozens of consumers face a battle to recoup cash after the collapse of an independent carpet retailer based in the North West of England.
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- BEDS & MATTRESSES
Recticel's U.K. comfort foams business is now in the hands of a Midlands-based investment firm after the Belgian conglomerate closed out the sale of the rest of its global engineered foam units to Carpenter for a revised-down price.
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- SUPPLY & WHOLESALE
Consumers awaiting furniture and mattresses from customers of delivery giant Tuffnells face potential delays after the freight specialist was formally placed into the hands of restructuring advisors on Monday.
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- CASE GOODS
South London bedroom specialist Instrument Furniture has ceased trading after heavy losses and a mounting debt burden negatively impacted the business.
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- SUPPLY & WHOLESALE
The cost of restructuring the furniture wholesale company Kettle Interiors U.K. could swallow up a seven-figure chunk of the hoped-for realisations from the sale of its assets to an entity under common control.
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- BEDS & MATTRESSES
A U.S. bankruptcy court has approved the Chapter 11 reorganisation plan for Serta Simmons Bedding (SSB), shunting the bed manufacturing giant further along the path to recovery.
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- DEALS & FINANCE
Soft furnishings distributor Riva Home has followed its buyout of cushion maker Evans Lichfield during the pandemic with the acquisition of Glasgow fabrics producer Voyage Maison.
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- RETAIL & DISTRIBUTION
A tranche of Made.com stock with a book value north of £6 million has yielded a sub 1 percent return for the estate of the bust furniture retailer after a logistics firm exercised a lien over the furniture held in its warehouse.
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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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