Saturday, June 23, 2018
TOP STORIES
House of Fraser wins backing from enough creditors to pass CVA
House of Fraser will close 31 stores including a number that house furniture concessions after its planned CVA gained enough creditor support.
Consolidated sales pass £50m for Harrison Spinks
Group consolidated revenue at Leeds bed manufacturing and components group Harrison Spinks has passed £50 million for the first time.
Management buy-in at £10m Dewsbury furniture maker
The md of furniture maker Shackletons has sold the business to an external investor who will run the company as chairman and chief executive.
Celebrity remained profitable despite JDP loss
Rise and recliner co. saw sales slide but made positive earnings contribution.
Upholstery, cabinet drag down May furniture sales
Year-on-year furniture sales were down more than £14 million in May as upholstery and case goods underperformed.
Sofa fabrics, carpet group cuts emissions by 36%
Beaulieu International Group, the Belgian based flooring and textiles conglomerate, says a decision to cut its truck transport dependency has yielded huge environmental benefits.
Undercutting rivals could send mattress companies batty
Mattress startups can't wait too long before making proper money.
Wider gross margin limits impact of Fairway Furniture sales dip
A currency-driven improvement in gross margin helped pare back the effect of lower sales at four-store furniture retailer Fairway in 2017–18.
Yorkshire rug distributor eyes online potential
The Bradford distributor behind the Homemaker Rug Collection says it will this year build on the launch of its third-party logistics and online fulfilment service.
Latexco obtains FSC certification, boosting sustainability credentials
Bedding components supplier Latexco is to supply a range of FSC-approved latex after gaining certification from the Forest Stewardship Council.
Buying group drops 'Furnishers Guild' from name to become Minerva Furniture Group
Buying group Minerva Furnishers Guild has changed its name to Minerva Furniture Guild, believing the former moniker to be old-fashioned.
Cabinet imports down 17% as China, Vietnam, Poland all tank
Imports of living, dining and bedroom cabinet fell sharply in April as all six of the UK's top trading partners shipped fewer goods here.
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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Store rollout helps Wren sales pass £400m
Sales jumped by a fifth and profits by half as Wren Kitchens continued to roll out new stores across the UK in 2017.
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Lombok relaunches and targets £10m in sales
Lombok has relaunched its London showroom with a re-engineered and expanded product roster and a B2B offer it believes can help it double sales within a year.
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Sofa maker considers options following Tesco Direct closure plan
Ultra Furniture says speculation the sofa maker has ceased trading is inaccurate. It is, however, examining its options after Tesco, Ultra's largest customer, said it plans to close its Direct...
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Elys delivers amid mixed bag at London, South East retailer
Privately-owned stores group Morleys posted rising sales in 2017–18 lifted by Elys of Wimbledon, the largest store in its retail estate.
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Discount retail giant offloads stake in Irish bedding chain
Variety retailer B&M Homestore has sold half its stake in an Irish bedding and curtains retail chain and has agreed a contract to sell the remainder at a later date.
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
Undercutting rivals could send mattress companies batty
Mattress startups can't wait too long before making proper money.
Factory gate data suggests more pain on the way. But not for everyone
Consumer furniture price inflation eased in May after a period of sustained high levels, driven by currency movement and rising input costs.
Furniture makers are never more than a boardroom decision away from peril
The situation at Ultra Furniture underscores the fragility at the heart of the business of furniture making.
IKEA analysis: Propco boost and what's happening with underlying sales?
The headline figures suggest IKEA posted lower profits and higher sales last year. But that paints far from the full picture at the UK's largest home furnishings retailer.
DATA & LISTS
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Debt Report: June 17, 2018
Today's list contains ten insolvent companies leaving combined debts of £1,547,377. Names all 36 creditors owed £10,000 or more.
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Industry insolvencies in the week to June 15, 2018
Eight insolvencies from within the furniture and furnishings industry were announced in the period Jun. 8–15, 2018.
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Who's gone bust: Industry insolvencies in the week to June 8, 2018
Fourteen insolvencies from within the furniture and furnishings industry were announced in the period Jun. 1–8, 2018.
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Debt Report: June 9, 2018
Today's list contains four insolvent companies leaving combined debts of £5,119,054. Names all 54 creditors owed £10,000 or more.
TOP STORIES
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House of Fraser wins backing from enough creditors to pass CVA
House of Fraser will close 31 stores including a number that house furniture concessions after its planned CVA gained enough creditor support.
-
Consolidated sales pass £50m for Harrison Spinks
Group consolidated revenue at Leeds bed manufacturing and components group Harrison Spinks has passed £50 million for the first time.
-
Tetrad launching upholstery line with Mulberry Home fabrics
Tetrad, the North West sofa maker celebrating its 50th year of trading in 2018, is launching an upholstery programme covered exclusively in Mulberry Home fabrics.
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Expanded store delivers double-digit growth for Barkers Home
Expanding and remodelling its Barkers Home store delivered instant payback for the privately-owned Northallerton retailer in 2017–18.
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Fabb Sofas ring-fenced deposits in case sale talks failed
Customers of Fabb Sofas who paid deposits in the period leading up to the retailer's closure may get their money back, after management took steps to protect funds.
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Hatfields presses ahead with plan to modernise Colchester store
Major South East furniture retailer Hatfields is progressing its long-in-the-planning external frontage works to modernise its Colchester store.
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Landlords in line to pick up store tab from Fabb's flop
Stores traded by Fabb Sofas, which was placed into administration earlier this month, will be difficult to find takers for because of their size and cost.
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China drop can't stop rising mattress imports
Mattress imports continued to rise in double-digit percentages at the start of the second quarter despite a fall in the amount shipped across from China.
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Adjustable firmness mattress brand plugs in Next distribution
Zommos, the mattress brand that claims to offer the UK's first adjustable firmness product, has agreed a distribution arrangement with national retail giant Next.
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Habitat opening London, Brighton standalone stores
Furniture and accents retailer Habitat will open its first new standalone stores in more than a decade as part of a £1.5 million investment by parent company Sainsbury's.
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OTHER NEWS
Management buy-in at £10m Dewsbury furniture maker
The md of furniture maker Shackletons has sold the business to an external investor who will run the company as chairman and chief executive.
Celebrity remained profitable despite JDP loss
Rise and recliner co. saw sales slide but made positive earnings contribution.
Upholstery, cabinet drag down May furniture sales
Year-on-year furniture sales were down more than £14 million in May as upholstery and case goods underperformed.
Sofa fabrics, carpet group cuts emissions by 36%
Beaulieu International Group, the Belgian based flooring and textiles conglomerate, says a decision to cut its truck transport dependency has yielded huge environmental benefits.
Wider gross margin limits impact of Fairway Furniture sales dip
A currency-driven improvement in gross margin helped pare back the effect of lower sales at four-store furniture retailer Fairway in 2017–18.
Yorkshire rug distributor eyes online potential
The Bradford distributor behind the Homemaker Rug Collection says it will this year build on the launch of its third-party logistics and online fulfilment service.
Latexco obtains FSC certification, boosting sustainability credentials
Bedding components supplier Latexco is to supply a range of FSC-approved latex after gaining certification from the Forest Stewardship Council.
Buying group drops 'Furnishers Guild' from name to become Minerva Furniture Group
Buying group Minerva Furnishers Guild has changed its name to Minerva Furniture Guild, believing the former moniker to be old-fashioned.
Cabinet imports down 17% as China, Vietnam, Poland all tank
Imports of living, dining and bedroom cabinet fell sharply in April as all six of the UK's top trading partners shipped fewer goods here.
EU vote lifted demand for British-made goods says Burbidge
Kitchen cabinet maker Burbidge posted higher sales in 2016–17, citing an increase in demand for British-made goods linked to the EU referendum.