Retail News
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A regional logistics company offering services including white-glove two-man furniture deliveries has been placed into the hands of restructuring advisors.
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- RETAIL & DISTRIBUTION
Building work is underway for a new purpose-built 1.17 million sqft distribution centre for The Range, the national home, garden and leisure retailer.
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- UPHOLSTERY
ScS, the U.K's second largest upholstered furniture retailer, said it has reversed negative order momentum to make gains since the start of winter, though cash reserves have declined through the period.
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- RETAIL & DISTRIBUTION
The number of mid-large sized furniture retailers operating in the U.K. dwindled last year as businesses either closed or reported lower turnover amid tougher trading conditions.
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Shareholders have given fresh backing to an online furniture search website that is fast becoming a key resource for shoppers who are in the product discovery phase.
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Sofa-in-a-box brand Swyft has eliminated millions of pounds of borrowing as part of a debt-for-equity swap and broader investment that will lead to TV exposure for the fast-growing upholstered furniture company.
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Kave Home, which launched into the U.K. market in 2021, has appointed a new generation to lead the company at the start of a year when the furniture and home décor brand hopes to add 60 new stores and galleries.
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- UPHOLSTERY
Upholstery retailer Sofas & Stuff is expanding its collaboration with the Victoria and Albert Museum (V&A) with the launch of a second collection, called Drawn from Nature.
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- UPHOLSTERY
Direct-to-consumer and wholesale upholstery brand Sofacompany booked high profits despite margins taking a knock from the after-effects of Covid last year.
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Ecommerce furniture retailer Swoon Editions is free of secured debt after it discharged in full its obligations to an invoice finance provider that provided funding after a restructuring over three years ago.
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- RETAIL & DISTRIBUTION
The wholly-owned U.K. store network of high-end French furniture company Roche Bobois delivered faster revenue growth than any other of its major global markets last year.
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- RETAIL & DISTRIBUTION
National beds and mattress retailer Bensons for Beds said it achieved high single-digit underlying sales growth in the final quarter of last year with post Boxing Day sales maintaining pre-Christmas momentum.
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- RETAIL & DISTRIBUTION
A South Wales based direct-to-consumer brand selling riser recline chairs, adjustable beds and other mobility aids online and from a regional store network has called in restructuring advisors and ceased trading.
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- RETAIL & DISTRIBUTION
Upholstery market leader DFS has appointed Gill Barr, a former senior John Lewis, Kingfisher and Cooperative Group official, as a non-executive director.
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- RETAIL & DISTRIBUTION
Dreams has appointed former DFS executive Emma Long as chief customer officer with the beds market leader also hiring its first ever head of people.
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- RETAIL & DISTRIBUTION
Furniture retailer The Cotswold Company has appointed a new chairman and chief marketing officer with the company also soon to expand its store footprint.
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- REGIONAL
A prominent South East furniture brand, which under a different structure a decade ago habitually generated sales north of £10 million a year, has deleveraged through 2021/22.
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- RETAIL & DISTRIBUTION
22nd store across the U.K. for national sofabed retailer.
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- RETAIL & DISTRIBUTION
More hard data showing how the furniture industry was lifted by a strong post-lockdown tailwind has arrived in the shape of orders processed through the central paying agent of the U.K.'s largest buying group in the sector.
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- BEDS & MATTRESSES
Martin Gill, the new managing director of Vispring, will continue to run the high-end bed maker's co-owned sister retail business, whose sales director is to have elevated responsibilities to provide support.
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- RETAIL & DISTRIBUTION
Britain's biggest floorcoverings retailer has been told to amend its marketing claims by the advertising watchdog after a complaint by its largest rival in the sector.
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Charlie Harrison has become managing director of Furniture Village as part of a board reshaping that sees several internal promotions and company co-founder Peter Harrison become executive chairman.
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The restructuring of a formerly-profitable online furniture, home and garden boutique based in Cheshire leaves creditors facing a potential shortfall.
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A working capital borrowing facility secured against key assets of furniture, home and garden retailer Cox & Cox has been settled.
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Ecommerce home platform Wayfair is laying off 1,750 employees in a move that cuts total headcount worldwide by about 10 percent. It said the move will accelerate its path to profitability.
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- REGIONAL
Cobham furniture retailer No44 Furniture & Fine Things has closed following a planned shutdown. Its owners intend to concentrate on other business interests closer to where they live.
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- RETAIL & DISTRIBUTION
Anecdotal tales of improvement in late 2022 furniture sales were backed up with hard data on Friday as official figures put December numbers up sharply on an annual basis.
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- RETAIL & DISTRIBUTION
Two months of improving consumer sentiment towards high-value purchasing intent came to an end this month according to a closely-followed consumer confidence survey.
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- RETAIL & DISTRIBUTION
Online marketplace Wayfair last year launched a product recall for a Polish-made corner unit as it doesn't meet the U.K.'s strict fire and flammability regulations.
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- RETAIL & DISTRIBUTION
The owner of The Conran Shop has provided another equity injection in a move that bolsters the balance sheet of the designer furniture, lighting and homeware retailer.
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- UPHOLSTERY
Six-figure profits helped bolster the balance sheet at Delcor in the first period since a change of ownership at the high-end upholstery business.
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- SUPPLY & WHOLESALE
A South West based logistics company whose services include two-man white glove delivery on behalf of big-ticket customers has filed a notice of intent to appoint an administrator (NOI).
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- INTERNATIONAL
Underlying profits reached record levels at Danish furniture retail, supply and investment conglomerate Lars Larsen Group (LLG) last year fuelled by organic growth and acquisitions.
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- RETAIL & DISTRIBUTION
French high-end furniture maker, retailer and franchisor Roche Bobois is to consolidate its store network in its domestic market with the acquisition of 13 stores run by two separate third-party operators.
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- RETAIL & DISTRIBUTION
Double-digit revenue growth in the three months to December 31 helped furniture and homeware retailer Dunelm counter falling sales in the three months prior.
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- RETAIL & DISTRIBUTION
A prominent online furniture brand with a co-owned wholesale arm supplying other retailers has launched a product recall for upholstered sofas and armchairs that do not meet the U.K. flammability regulations.
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- RETAIL & DISTRIBUTION
Consumer price inflation for household furniture eased for the fourth consecutive month in December but remained at a high level compared with historic norms.
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- RETAIL & DISTRIBUTION
Starplan Furniture booked record sales and profits through 2021/22 as demand surged for the fitted and freestanding cabinet maker and retailer.
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- RETAIL & DISTRIBUTION
DFS Group has expanded its supply chain partnership with Wincanton, agreeing a new three-year deal that builds on an existing collaboration for the Dwell furniture brand to additionally include other non-sofa products.
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- RETAIL & DISTRIBUTION
Employees and customer orders have transferred as part of a restructure that provides continuity of trade at the multi-million pound turnover retailer behind the Oak Furniture House brand.
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