Retail News
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- RETAIL & DISTRIBUTION
Frasers Group, owner of House of Fraser and Sofa.com, has acquired upmarket homewares brand Amara in a deal brokered by restructuring advisors.
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- RETAIL & DISTRIBUTION
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
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- SUPPLY & WHOLESALE
The private equity backed group that owns custom fitted furniture maker Neville Johnson paid eight-figure dividends to shareholders in a period when it agreed extended borrowing and saw trading profits fall.
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- UPHOLSTERY
Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
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- DEALS & FINANCE
General merchandise retailer Next has partnered Tom Joule to acquire the majority of the assets of lifestyle brand Joules out of administration in two transactions worth a total of £41 million.
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- BEDS & MATTRESSES
Direct-to-consumer and wholesale mattress company Emma Sleep is being investigated by the U.K.'s antitrust regulator over concerns some of its online sales practices may have breached consumer law.
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- REGIONAL
Liverpool based home and garden retailer Taskers booked lower profits as administrative expenses climbed and Covid financial support measures fell away through 2021/22.
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- RETAIL & DISTRIBUTION
Experienced retail leader Neville Moore has been voted in as chair of Associated Independent Stores (AIS), the Midlands based buying and services group for privately-owned retailers.
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- RETAIL & DISTRIBUTION
Shaun Cook has left his role as director of retail at DFS-owned upholstered furniture chain Sofology. An interim successor is already in place at the Warrington based retailer.
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- UPHOLSTERY
Upholstered furniture giant Natuzzi enjoyed a €9.2 million bottom line swing in the third quarter, but it cautioned of tougher times to come with shoppers worldwide rethinking their spending plans.
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- RETAIL & DISTRIBUTION
The operator of Dreams beds stores in Northern Ireland has recruited the former head of Marks and Spencer's business in Ireland as its new commercial director.
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- REGIONAL
A Yorkshire bedroom furniture retailer leaves creditors facing a seven-figure shortfall after it ceased trading earlier this autumn.
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- RETAIL & DISTRIBUTION
IKEA store operator and property owner Ingka Group booked smaller profits as its financial investments were hit by upheaval in bond markets caused by rising interest rates.
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- RETAIL & DISTRIBUTION
U.K. ecommerce furniture sales growth returned in the third quarter of 2022 after year-on-year declines in the first half of the year. Store-based retail sales continued to climb faster, with volumes down across both channels.
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- UPHOLSTERY
What's done can't be undone, for direct-to-consumer Stratford-upon-Avon sofa manufacturer.
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- RETAIL & DISTRIBUTION
Upholstery and flooring chain ScS says it is trading resiliently through a challenging period with order intake growth having returned through the autumn.
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- RETAIL & DISTRIBUTION
More detailed terms of the buyout of highly-profitable clicks-to-bricks furniture retailer Loaf have been disclosed for the first time following an investment by Blue Coast Capital last year.
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- RETAIL & DISTRIBUTION
Ecommerce mattress and bed frame retailer Crazy Price Beds is under new ownership after surging import costs and other headwinds forced the disposal of the Midlands operation.
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- RETAIL & DISTRIBUTION
Restructuring advisors handling the fallout of the collapse of Made.com (Made) say five trade suitors made bids for the now-defunct furniture retailer during efforts to secure a solvent sale.
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- LEGAL & RESTRUCTURING
A privately-owned bedroom furniture manufacturer is to restructure its debts after it agreed a company voluntary arrangement (CVA) with its largest creditor.
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- REGIONAL
Heritage North West independent furniture and furnishings retailer Arighi Bianchi appointed Susie Harding from Tetrad as finance director, it has just announced.
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- RETAIL & DISTRIBUTION
Bed market leader Dreams is to raise pay for its workforce for the second time this year and introduce a raft of new initiatives designed to support employees.
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- RETAIL & DISTRIBUTION
The book value of historic West Sussex furniture retailer Reynolds has climbed through the pandemic on strong profits and asset acquisition.
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- RETAIL & DISTRIBUTION
Northern European furniture brand ILVA plans to build out its presence in Scandinavia over the next year as the one-time U.K. retailer expands beyond its Danish homeland.
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- UPHOLSTERY
Direct-to-consumer upholstery brand Abakus Direct booked a second straight year of six-figure profits in 2021 as it continued to bounce back from a restructure four years ago.
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- RETAIL & DISTRIBUTION
Eight furniture, bed and flooring industry enterprises have been named among the best companies to work for in Britain according to a closely-followed list spanning all U.K. industry.
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- RETAIL & DISTRIBUTION
West Elm has closed a standalone store in the U.K. for the first time since the Brooklyn-based furniture retail brand arrived here from the U.S. back in 2015.
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- LEGAL & RESTRUCTURING
Made.com ran up more than £1 million in professional fees payable to lawyers and restructuring advisors in the weeks leading up to it being placed into administration.
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- RETAIL & DISTRIBUTION
Europe's largest kitchen manufacturer will have expanded its U.K. store footprint by a fifth once the last of two further planned stores are launched in the coming weeks.
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- RETAIL & DISTRIBUTION
Privately-owned furniture and home accents retail chain EZ Living Interiors has expanded its footprint in Ireland with the launch of a second Dublin store.
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- RETAIL & DISTRIBUTION
Restructuring advisors plan to carve out and find a new owner for Trouva, the online trading platform acquired by Made.com (Made) back in the summer.
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- RETAIL & DISTRIBUTION
High price inflation in the furniture category helped the value of retail sales advance in October on a year-on-year basis but the quantity of goods delivered declined.
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- RETAIL & DISTRIBUTION
The Government has decided not to introduce an online sales tax as part of wider business rates reform in a move that will disappoint some brick-and-mortar retailers and high street evangelists.
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- RETAIL & DISTRIBUTION
Consumer confidence improved for the second straight month in November according to a closely-followed poll amid leadership change in Westminster.
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- RETAIL & DISTRIBUTION
The value of Made.com stock held at U.K. and Belgian warehouses totalled £12.5 million at cost when restructuring advisors were appointed last week, but may realise only a fraction of that amount.
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- RETAIL & DISTRIBUTION
Preferential and secured claims from U.K. tax authorities and lender Silicon Valley Bank are expected to be repaid in full following the collapse of Made.com, but other creditors face a significant shortfall on the amounts owed to them.
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- RETAIL & DISTRIBUTION
Furniture and home retailer The Garden Trading Company together with its parent company Joules Group were both officially placed into the hands of restructuring advisors on Wednesday afternoon.
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- ECOMMERCE
The West Yorkshire company behind the Bedkingdom.co.uk brand has emerged as one of the largest in the ecommerce beds segment after rapid growth through the pandemic.
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- RETAIL & DISTRIBUTION
Underlying profits almost doubled for independent furniture retailer Cookes in the year to end March as the privately-owned group made gains across both its retail and storage businesses.
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- RETAIL & DISTRIBUTION
Consumer price inflation for household furniture eased to its lowest reading in 10 months in October but remains at a historically elevated level.
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