TOP STORIES

• Far East upholstery giant to raise £224m to fund factory, digital and retail projects

  Man Wah Holdings, the upholstery and recliner giant with manufacturing operations across the Far East and Eastern Europe, hopes to raise the equivalent of £224 million to fund expansion and modernisation activities.

• Furniture Makers to host Innovation in Times of Crisis webinar series

  Leading minds from the across the industry will tackle topics ranging from innovation in manufacturing to sector survival and retail in a new series of webinars to be hosted by The Furniture Makers' Company.

• Decision to invest in stock paid off, says The Cotswold Company

  Furniture retailer The Cotswold Company said its decision to invest in inventory ahead of the pandemic has aided strong growth in 2020–21, mitigating the impact of Far East factory closures and enabling it to meet demand and fulfil orders.

• NEC furniture show postponed to January 2022

  Furniture Show Birmingham at the NEC will return in a year's time after organisers rescheduled the April event to January 23–26, 2022 as a result of the current restrictions designed to curb the spread of Covid-19.

• Former John Lewis exec joins Loaf as operations director

  Furniture retailer Loaf has appointed David Meredith, the former head of operations at John Lewis & Partners, as operations director.

• Ex-Sainsbury's CEO becomes chairman at Oak Furnitureland

  Mike Coupe, who retired as Sainsbury's CEO after six years last spring, has become chairman at Oak Furnitureland, the hardwood furniture chain has announced.

• Heal's booked seven-figure loss last year but revenue was almost flat on ecommerce lift

  Designer furniture retailer Heal's slipped to a loss last year because of the impact of the pandemic along with one-time items. Online growth helped partially mitigate the impact of store closures on revenue.

• MD says Leekes finances in good shape ahead of store plans

  The md of home department store retailer Leekes says the business is in a strong position after navigating the challenges thrown at it through 2020 and as it prepares to reconfigure its store network.

• Tribute to Brian Mynett, who helped Natuzzi thrive in the U.K.

  Brian Mynett, the former Christie-Tyler executive who was later responsible for driving the U.K. expansion of Italian sofa giant Natuzzi, has died. He was 80 years old.

• Sleepeezee revenue run-rate reached £40m after record autumn

  Sleepeezee remained profitable at the EBITDA line in 2020 and would have achieved a second straight year of double-digit top line growth but for the pandemic, the company says.