Tuesday, April 7, 2020
TOP STORIES
CEO to step down from mattress brand Eve Sleep
James Sturrock is to step down as chief executive at Eve Sleep, the direct-to-consumer mattress and ancillary products brand, to take up a new post outside the company.
Fears for battle over deposits as confidence plummets
Consumer confidence for big-ticket items has plummeted to its lowest level since records began, sparking alarm for the eventual planned delivery of orders already taken in the pre Covid-19 period.
BFM urges fast release of cash to fund wage payments
An estimated 100,000 jobs across the furniture and furnishings sector have either been furloughed or eliminated since the coronavirus crisis began, with the future of many now dependent on Government funds.
Owner of mattress ticking giant acquires half of Emma
A private investment group already with skin-in-the-game in the mattress sector has acquired a 50.1 percent stake in direct-to-consumer beds business Emma - The Sleep Company.
Debenhams confirms 'light-touch' insolvency plan
Debenhams has confirmed it filed a notice of intention to appoint administrators, a move that buys the retailer protection from creditor action for nearly two weeks.
Outgoing ScS boss to remain until summer of next year
ScS chief executive David Knight, who announced his intention to retire back in January, has agreed to remain in place for an extended period of time as the group navigates the coronavirus crisis.
Profits jumped last year for under-the-radar U.K. online furniture retailer
The release of selected financial figures indicate a breakout year for privately-owned ecommerce retailer Furniture Box in 2018–19.
CMO and director of retail leave national beds specialist
Chief marketing officer Tony Holdway and director of retail Paul Owen will depart national beds specialist Dreams, its CEO has told Retail Week, a trade newspaper.
NBF creates Coronavirus Hub for members, retailers to access guidance
Bed manufacturers and their customers can access up-to-date advice on support packages available to them via a newly-created Coronavirus Hub put together by the National Bed Federation (NBF).
Three properties will dictate returns for Beales secured creditors
Returns for the secured creditors of fallen department store retailer Beales will depend on the value administrators can extract out of the company's three principal property assets.
Mattress maker says healthcare unit received six months of orders in just five days
Diversified manufacturer GNG Group says it is working around the clock to meet demand within its healthcare unit with the company having been awarded Key Supplier Status by the National Health Service (NHS).
The Original Bed Co. expands into German market
British bed and mattress vertical The Original Bed Co. is to launch into mainland Europe with the introduction of a dedicated German sales channel.
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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Retailer Next stress-tests business for feared £1bn sales drop
General merchandise retailer Next has outlined how it would cope if the coronavirus pandemic leads to its annual turnover dropping by 25 percent over the next year.
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Most U.K. furniture retailers keep doors open, but IKEA, rest of Western world shuts down
The vast majority British furniture and department store retailers have so far resisted making wholesale store closures despite footfall collapsing as consumers follow Government guidance to...
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ScS as "well positioned as it can be" as it quantifies virus impact with limited order fall
ScS, Britain's second largest upholstery specialist, has reiterated its readiness to cope with the coronavirus crisis but cautioned that many factors remain uncertain.
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For the first time in 155 years, John Lewis will close all its department stores
John Lewis Partnership says it will temporarily close all of its John Lewis department stores because of the coronavirus pandemic.
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Shop closures prompts cut in John Lewis supply pipeline
John Lewis & Partners says online orders are ramping significantly but it will still need to buy less from suppliers as it adjusts to the impact of temporary store closures.
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
Online and deliveries: Furniture retailers diverge in approach
With furniture stores shut for at least three weeks because of the coronavirus pandemic, taking payments online and the delivery of outstanding orders represent retailers' only opportunity to generate income.
Britain prepares to become a nation of (Internet) shopkeepers
Few U.K. furniture retailers have yet closed their doors in response to the coronavirus pandemic but by now there cannot be a single one in the country that has not contemplated that prospect, enforced or otherwise.
The furniture industry braces itself for disruption and change
At the end of January I wrote an article about the strength of Britain's independent furniture retail sector, underscoring the cash-rich nature of some of its companies.
DFS delivers a canary in the coalmine for rest of U.K. furniture trade
DFS says production volumes in China are increasing again after the coronavirus outbreak temporarily brought factories to a halt. But it cautioned it could face disruption elsewhere, including at its own U.K. operation.
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Donate Your PPE
Furniture manufacturers, do you have supplies of Personal Protective Equipment (PPE)? Help the NHS.
More Information
DATA & LISTS
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The Insolvency List: Filings in the week to April 3, 2020
16 insolvencies from within the furniture and furnishings industry was announced in the period from March 28–April 3, 2020.
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Debt Report: Companies, individuals owed £10k and more, April 3, 2020
Today's list contains five insolvent companies leaving combined debts of c. £1.45 million. Names all c. 25 creditors owed £10,000 or more.
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Corporate Insolvency: Filings in the week to March 27, 2020
One insolvency from within the furniture and furnishings industry was announced in the period from March 21–27, 2020.
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Debt Report: Creditors owed £10k plus from insolvency industry companies: March 27, 2020
Today's list contains seven insolvent companies leaving combined debts of c. £1.3 million. Names all c. 25 creditors owed £10,000 or more.
TOP STORIES
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CEO to step down from mattress brand Eve Sleep
James Sturrock is to step down as chief executive at Eve Sleep, the direct-to-consumer mattress and ancillary products brand, to take up a new post outside the company.
-
Fears for battle over deposits as confidence plummets
Consumer confidence for big-ticket items has plummeted to its lowest level since records began, sparking alarm for the eventual planned delivery of orders already taken in the pre Covid-19 period.
-
Major U.K. upholstery group in administration after hit by retail failure
East Midlands upholstery manufacturer JDP Furniture Group has been placed into administration after it was adversely impacted by the insolvency of Laura Ashley, a major customer of one of its production units.
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Management at motion upholstery maker Celebrity target rescue deal
Hopes are high for the future of rise and recline upholstery producer Celebrity Motion Furniture despite the company and its parent being placed into administration late last week.
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Emma Mattress says sales unaffected by Covid-19, posts sharp Q1 rise in U.K.
Direct-to-consumer mattress brand Emma says it near doubled sales in the U.K. in the first three months of the year, adding that it continued unaffected by the coronavirus pandemic.
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Debenhams considers administration as it seeks breathing space from creditors
Department store retailer Debenhams is considering ways to protect the business from creditor action including a possible second insolvent restructure within the space of a year.
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Fenwick hires new CEO as successor to Feather & Black co-founder
Family-owned department store retailer Fenwick has reshaped its senior management team, with its chief executive and chairman both to depart.
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Revenue fell, losses widened before cabinet furniture supplier's £5.5m sale, reboot
Cabinet furniture maker and distributor Devonshire incurred a bigger loss on lower sales ahead of its sale last autumn and subsequent relaunch earlier this year.
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U.S. investor rescued 93-year-old heritage British bed maker
More than 90 years of history and heritage has been salvaged after a U.S. bed-industry investor acquired North West mattress maker Burgess out of administration.
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Early 2020 import data hints at furniture inventory levels before Covid-19 hit
The release of January furniture and flooring trade data offers insight into inventory levels ahead of feared supply chain disruption out of China and subsequent demand concerns with enforced store closures.
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OTHER NEWS
BFM urges fast release of cash to fund wage payments
An estimated 100,000 jobs across the furniture and furnishings sector have either been furloughed or eliminated since the coronavirus crisis began, with the future of many now dependent on Government funds.
Owner of mattress ticking giant acquires half of Emma
A private investment group already with skin-in-the-game in the mattress sector has acquired a 50.1 percent stake in direct-to-consumer beds business Emma - The Sleep Company.
Debenhams confirms 'light-touch' insolvency plan
Debenhams has confirmed it filed a notice of intention to appoint administrators, a move that buys the retailer protection from creditor action for nearly two weeks.
Outgoing ScS boss to remain until summer of next year
ScS chief executive David Knight, who announced his intention to retire back in January, has agreed to remain in place for an extended period of time as the group navigates the coronavirus crisis.
Profits jumped last year for under-the-radar U.K. online furniture retailer
The release of selected financial figures indicate a breakout year for privately-owned ecommerce retailer Furniture Box in 2018–19.
CMO and director of retail leave national beds specialist
Chief marketing officer Tony Holdway and director of retail Paul Owen will depart national beds specialist Dreams, its CEO has told Retail Week, a trade newspaper.
NBF creates Coronavirus Hub for members, retailers to access guidance
Bed manufacturers and their customers can access up-to-date advice on support packages available to them via a newly-created Coronavirus Hub put together by the National Bed Federation (NBF).
Three properties will dictate returns for Beales secured creditors
Returns for the secured creditors of fallen department store retailer Beales will depend on the value administrators can extract out of the company's three principal property assets.
Mattress maker says healthcare unit received six months of orders in just five days
Diversified manufacturer GNG Group says it is working around the clock to meet demand within its healthcare unit with the company having been awarded Key Supplier Status by the National Health Service (NHS).
The Original Bed Co. expands into German market
British bed and mattress vertical The Original Bed Co. is to launch into mainland Europe with the introduction of a dedicated German sales channel.