Thursday, February 21, 2019
TOP STORIES
Wesley Barrell prepacked for £20,000 upfront with rest to be paid later
The restructure of premium sofa maker and retailer Wesley Barrell involved a £20,000 upfront payment with the rest payable over time. Creditors face a shortfall of about £2.5 million.
Laura Ashley furniture sales sink in grim first half for retail chain
Furniture-to-fashion chain Laura Ashley attributed a double-digit slump in big-ticket upholstery, cabinet and bed sales for it sinking to a half-year loss in the 26 weeks to December 31, 2018.
Kitchen giant Wren joins furniture makers trade association BFM
Retail giant Wren Kitchens, which makes it own products out of vast factories across Lincolnshire and Yorkshire, has become an approved member of BFM, the British Furniture Manufacturers association.
Chinese furniture maker plans factory in Eastern Europe
A major Far East upholstered chair maker is planning its first foray into European production with a purpose-built plant in Romania.
Employee-owned carpet maker returns to profit on sales jump
One of Britain's largest independent carpet manufacturers was back in the black last year after it shrugged off a "challenging retail environment" and market uncertainty to post near double-digit growth.
Administrators disclose past dealings with Wesley Barrell owner
The joint administrators of Wesley Barrell have outlined details of their past relationship with the owner of the prepacked upholstery maker and retailer, saying between them they worked on two previous insolvencies he was involved with.
Sofas shine despite sixth straight home decline — John Lewis
Upholstery sales were strong in an otherwise bleak week for John Lewis & Partners home category goods, with the department store mutual posting a sixth straight year-on-year fall.
Glasswells rewards longstanding Haverhill branch manager Gary King
Privately-owned home furnishings retailer Glasswells has paid tribute to Gary King, manager of its Haverhill store, with an award for his 40 years of service.
Furniture maker YTM Group in administration with loss of 117 jobs
Contract and hotel furniture maker YTM Group has ceased trading after being placed into administration. All 117 employees have been made redundant.
Competition watchdog invites comment on Headlam takeovers
Competitors and other interested parties have been invited to have their say on the takeover of two distributors bought by floorcoverings wholesale giant Headlam last year.
Luxury furnishings group Walker Greenbank to cut costs
Interior furnishings group Walker Greenbank is to begin a cost saving exercise as it looks to mitigate the impact of weakening UK brand sales on the business.
Yorkshire sofa fabrics supplier builds cash, stocks
Working capital increased for West Yorkshire upholstery fabrics supplier J Brown Fabrics in 2017–18 as it ended the period with more cash and inventory than the previous year.
INTELLIGENCE
Market Data
Detailed market information about each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors at suppliers' prices.
Discover the up-to-date value of:
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UK production
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Imports
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Exports
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Key Trading Partners
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Total UK market size
BEST READ IN THE PAST MONTH
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Likewise moves into mainstream flooring with £1.2m acquisition
Likewise Group has made its first move into the wall-to-wall floorcoverings category after completing the acquisition of South East London based distributor Lewis Abbott.
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Carpetright sales trend improves but still down
Carpetright, Britain's biggest flooring retailer, said it continued to trade below year-earlier levels in the period taking in pre-Christmas trading and the January sales.
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Fire destroys Heal's national furniture distribution centre, stock
Designer furniture retailer Heal's says it has been left shocked by a major fire that destroyed its newly-leased warehouse and the stock stored inside, but relieved that no-one was hurt.
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Wesley Barrell owner defends strategy, reacts to restructure speculation
The owner of upmarket upholstery maker and retailer Wesley Barrell says he is not afraid to do "what needs to be done" in response to the economic climate and to ensure the business' survival.
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Next continues building furniture, homeware brand base online
General merchandise retailer Next has added a net 147 furniture and homeware brands to its online product roster in the past two and a half years, aiding its performance and visibility in the...
INTELLIGENCE
Retail Sales
Up-to-date monthly UK retail sales data spanning total furniture and lighting sales PLUS detailed breakdowns for each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors.
Proprietary granular data covering:
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UK retail sales value and y/y delta. Monthly and annual
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Breakdown by product category
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Historical data
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Monthly and annual figures
OPINION & ANALYSIS
Sofa.com, Sports Direct and the sound of silence
The 'nominal sum' sale of upholstery maker and retailer Sofa.com might well have been for more than it first appears.
Opinion: Lidl more than a foam mattress, but bad news for bed vendors
Briefly, the UK mattress industry had a new competitor.
Sofa.com takeover — what would constitute a good deal for Sports Direct or ScS?
How much do you think Sofa.com is worth, someone once very close to ScS asked us at the January Furniture Show last week? In hindsight, that question was either extremely prescient or heavily-loaded.
Who would buy Sofa.com and how much would they have to pay?
When Sofa.com debt-holder LGT European Capital took over the equity element of the upholstery vertical last year there was perhaps only ever one certainty.
DATA & LISTS
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Debt Report: Who was owed what by Wesley Barrell (Witney)
List containing details of creditors owed £10,000 or more by Wesley Barrell (Witney), which was placed into administration February 7, 2019.
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Debt Report: Who's owed what by insolvent industry concerns — Feb. 15, 2019
Today's list contains eight insolvent companies leaving combined debts of £3,484,221. Names all 53 creditors owed £10,000 or more.
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Administrator & liquidator appointments between Feb. 9–15, 2019
Seven insolvencies from within the furniture and furnishings industry were announced in the period February 9–15, 2019.
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Debt Report: Who's owed what by insolvent industry concerns — Feb. 8, 2019
Today's list contains six insolvent companies leaving combined debts of £1,628,996. Names all 37 creditors owed £10,000 or more.
TOP STORIES
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Wesley Barrell prepacked for £20,000 upfront with rest to be paid later
The restructure of premium sofa maker and retailer Wesley Barrell involved a £20,000 upfront payment with the rest payable over time. Creditors face a shortfall of about £2.5 million.
-
Laura Ashley furniture sales sink in grim first half for retail chain
Furniture-to-fashion chain Laura Ashley attributed a double-digit slump in big-ticket upholstery, cabinet and bed sales for it sinking to a half-year loss in the 26 weeks to December 31, 2018.
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Retailer And So To Bed names Dr Lindsay Browning as Sleep Ambassador
Dr Lindsay Browning, author of troublesleeping.co.uk, has been appointed Sleep Ambassador at And So To Bed, the UK and international high-end bedding retailer.
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Premium upholstery chain Wesley Barrell lives on after insolvent restructure
High-end sofa maker and retailer Wesley Barrell has completed its widely-anticipated restructure after the operating company was placed into the hands of administrators earlier this month.
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South East beds retail chain for sale after being placed into administration
Independent specialist retail chain Beaumont Beds has been placed into administration with office holders having already culled a number of its stores on appointment and hired agents to find a buyer for the business.
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Victoria says job cuts, machinery investment making carpet production more efficient
Victoria, the acquisitive floorcoverings conglomerate, says its South Wales carpet factory will produce higher volumes despite recent headcount reductions, with a new backing line now in full production.
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Our Fabb fees might be higher than anticipated, administrator says
PwC, the big-four consultancy firm overseeing the winding down of the now-defunct upholstery chain Fabb Sofas, says its fees might be higher than first anticipated.
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Riser recline chair maker creditors owed £1.5m
Creditors of the heritage rise and recline chair maker AJ Way, which filed for insolvency last autumn, face a potential seven-figure shortfall according to a report by administrators.
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January saw highest furniture retail price inflation since April
Retailers held their nerve last month as furniture retail price inflation climbed to a nine-month high in January, driven by shallower discounts.
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Sofa.com secures Sports Direct lending facility
Any lingering doubts over Sports Direct International's involvement with Sofa.com have been put to bed with details emerging of a credit line agreed between the two parties.
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OTHER NEWS
Kitchen giant Wren joins furniture makers trade association BFM
Retail giant Wren Kitchens, which makes it own products out of vast factories across Lincolnshire and Yorkshire, has become an approved member of BFM, the British Furniture Manufacturers association.
Chinese furniture maker plans factory in Eastern Europe
A major Far East upholstered chair maker is planning its first foray into European production with a purpose-built plant in Romania.
Employee-owned carpet maker returns to profit on sales jump
One of Britain's largest independent carpet manufacturers was back in the black last year after it shrugged off a "challenging retail environment" and market uncertainty to post near double-digit growth.
Administrators disclose past dealings with Wesley Barrell owner
The joint administrators of Wesley Barrell have outlined details of their past relationship with the owner of the prepacked upholstery maker and retailer, saying between them they worked on two previous insolvencies he was involved with.
Latest NBF Code of Practice gains trading standards backing
The National Bed Federation's updated Code of Practice — its third iteration since it launched in 2013 — has been accepted as Assured Advice by trading standards, as the previous two versions were before it.
Sofas shine despite sixth straight home decline — John Lewis
Upholstery sales were strong in an otherwise bleak week for John Lewis & Partners home category goods, with the department store mutual posting a sixth straight year-on-year fall.
Glasswells rewards longstanding Haverhill branch manager Gary King
Privately-owned home furnishings retailer Glasswells has paid tribute to Gary King, manager of its Haverhill store, with an award for his 40 years of service.
Furniture maker YTM Group in administration with loss of 117 jobs
Contract and hotel furniture maker YTM Group has ceased trading after being placed into administration. All 117 employees have been made redundant.
Competition watchdog invites comment on Headlam takeovers
Competitors and other interested parties have been invited to have their say on the takeover of two distributors bought by floorcoverings wholesale giant Headlam last year.
Luxury furnishings group Walker Greenbank to cut costs
Interior furnishings group Walker Greenbank is to begin a cost saving exercise as it looks to mitigate the impact of weakening UK brand sales on the business.