Retail News
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- DEALS & FINANCE
An alternative finance provider to dozens of furniture industry enterprises could follow its parent company into administration according to a new court filing.
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The California company behind the Nectar mattress brand funded further U.K. growth last year ahead of a buildout of its direct-to-consumer business model into wholesale.
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There has been management and shareholder change at a North West England ecommerce mattress business widely hailed for its SEO credentials.
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- RETAIL & DISTRIBUTION
Bensons for Beds is remodelling one and opening a further two new stores before Christmas including a unit on the mezzanine floor at one of Natuzzi Editions' southeast showrooms.
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- RETAIL & DISTRIBUTION
Loan note holders have agreed not to seek the repayment of tens of million of pounds of debt due from The Cotswold Company should doing so be prejudicial to the furniture retailer's ongoing prospects.
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- RETAIL & DISTRIBUTION
Privately-owned furniture and home retailer Sterling booked its biggest bottom line since 1998 in the year to February 28, 2022 as it benefitted from investment in stores and post-lockdown tailwinds.
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- RETAIL & DISTRIBUTION
The Garden Trading Company, the ecommerce and wholesale furniture, home and garden company, was not sold to general merchandise giant Next as part of the £41 million buyout of Joules Group assets and its headquarters last week.
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A Staffordshire ecommerce business majoring in screen printed household textiles and other homewares has been placed into liquidation leaving creditors facing a seven-figure shortfall.
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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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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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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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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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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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