Tuesday, February 7, 2023
Frasers Group paid £2m to acquire furniture, home retailer Amara
Frasers Group, owner of retailers House of Fraser and Sofa.com, paid £2 million in cash to rescue the business and assets of Amara Living after the embattled home and living brand had run out of alternative funding sources.
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Alfrank CEO steps down but supports leadership transition in new role
Alan Sweeney has stepped down as Alfrank Designs CEO after almost 17 years to launch a new agency and sourcing business with one of Ireland's leading furniture buyers. He will continue to work with the dining and occasional furniture supplier on a part-time basis.
Objection prevents now-shut Edinburgh bed retailer from being struck off
An already-closed Edinburgh mattress retail company has been temporarily prevented from being struck off from the company register following an objection.
EZ Living Furniture plans purpose-built Boucher Road store
Prominent Irish retailer EZ Living Furniture is planning to build and open a state-of-the-art retail warehouse in arguably Northern Ireland's premier location for big-ticket home retailers.
NEC show organiser says 74% of exhibitors have rebooked for 2024
The organiser of the January Furniture Show says nearly three quarters of exhibitors have already rebooked for the 2024 edition, and name-checked two large upholstery brands among those that will return after missing this year's event.
Mattress spring maker gains Cradle to Cradle Bronze accreditation
Yorkshire mattress springs and bed components manufacturer Spinks has secured an internationally-renowned accreditation for its pocket spring products.
JYSK expands in U.K. amid global store rollout
Inexpensive Danish furniture retailer JYSK will open five stores in two days this month including a buildout of its U.K. footprint.
Upholstery vertical Sofa.com lands profits of £6.4m
Upholstery brand Sofa.com maintained high double-digit margin last year despite rising costs weighing against the impact of big sales growth.
U.K. arm of dining, bedroom brand Rowico in administration
The U.K. future of international bedroom and dining furniture resource Rowico is unclear after its wholly-owned business unit here was placed into the hands of restructuring advisors late last month.
HSL promotes Venessa Hodgson, as CEO Guy Critchlow exits
HSL has appointed Venessa Hodgson as managing director designate following the departure of CEO Guy Critchlow, who has left after over six years with the furniture vertical.
Two-man delivery company placed into administration
A regional logistics company offering services including white-glove two-man furniture deliveries has been placed into the hands of restructuring advisors.
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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Designer furniture retailer buttressed by further shareholder backing
The owner of The Conran Shop has provided another equity injection in a move that bolsters the balance sheet of the designer furniture, lighting and homeware retailer.
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Restructuring advisors appointed at Studio Moderna Brands International
Studio Moderna Brands International, a U.K. company controlled by the mainland European group that also owns mattress and bedding brands such as Dormeo and Octaspring, has been placed into...
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Vispring md Jim Gerety to retire
Jim Gerety is to retire as managing director at Vispring, the Devon bed manufacturer has announced. Operations director Chris Harrison is also retiring.
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Buyout value disclosed in creation of £240m upholstery group
Furniture group Actona has revealed it paid well above book value for the takeovers of European sofa producers SITS and Theca last year in deals that made it one of the world's largest upholstery...
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Charlie Harrison promoted to md in Furniture Village board reshuffle
Charlie Harrison has become managing director of Furniture Village as part of a board reshaping that sees several internal promotions and company co-founder Peter Harrison become executive chairman.
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
DATA & LISTS
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Why the Amara prepack is not all bad for former shareholders
As a rule, the prepack sale of the business and assets of an insolvent company to an unrelated third party spells bad news for the prior shareholders.
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Sofa.com explainer: Reconciling a huge profit with a large cash burn
Sofa.com was again a big profit generator for its owner Frasers Group last year, yet cash declined and it was nothing to do with dividends. Here's why.
TOP STORIES
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Frasers Group paid £2m to acquire furniture, home retailer Amara
Frasers Group, owner of retailers House of Fraser and Sofa.com, paid £2 million in cash to rescue the business and assets of Amara Living after the embattled home and living brand had run out of alternative funding sources.
-
Restructuring advisors plan to liquidate bedroom, dining brand's U.K. inventory
Restructuring advisors handling the insolvency of the U.K. arm of bedroom and dining resource Rowico say they are clearing inventory following their appointment last month.
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John Lewis exit and store closure will hit U.K. sales, says West Elm
The owner of the West Elm and Pottery Barn Kids retail and wholesale brands said it expects to register lower U.K. sales as a result of business model and strategy adjustments here.
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Barker & Stonehouse closes in on completion of £5m store
National furniture retailer Barker & Stonehouse has shared images of its soon-to-be-finished Gateshead store ahead of its scheduled opening this spring.
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Record year for direct-to-consumer sofa maker Saxon
The upholstered furniture manufacturer behind brands including Sofas by Saxon and Timeless Chesterfields enjoyed the strongest financial year in its history through 2021/22.
OTHER NEWS
Alfrank CEO steps down but supports leadership transition in new role
Alan Sweeney has stepped down as Alfrank Designs CEO after almost 17 years to launch a new agency and sourcing business with one of Ireland's leading furniture buyers. He will continue to work with the dining and occasional furniture supplier on a part-time basis.
Objection prevents now-shut Edinburgh bed retailer from being struck off
An already-closed Edinburgh mattress retail company has been temporarily prevented from being struck off from the company register following an objection.
EZ Living Furniture plans purpose-built Boucher Road store
Prominent Irish retailer EZ Living Furniture is planning to build and open a state-of-the-art retail warehouse in arguably Northern Ireland's premier location for big-ticket home retailers.
NEC show organiser says 74% of exhibitors have rebooked for 2024
The organiser of the January Furniture Show says nearly three quarters of exhibitors have already rebooked for the 2024 edition, and name-checked two large upholstery brands among those that will return after missing this year's event.
Mattress spring maker gains Cradle to Cradle Bronze accreditation
Yorkshire mattress springs and bed components manufacturer Spinks has secured an internationally-renowned accreditation for its pocket spring products.
JYSK expands in U.K. amid global store rollout
Inexpensive Danish furniture retailer JYSK will open five stores in two days this month including a buildout of its U.K. footprint.
Upholstery vertical Sofa.com lands profits of £6.4m
Upholstery brand Sofa.com maintained high double-digit margin last year despite rising costs weighing against the impact of big sales growth.
U.K. arm of dining, bedroom brand Rowico in administration
The U.K. future of international bedroom and dining furniture resource Rowico is unclear after its wholly-owned business unit here was placed into the hands of restructuring advisors late last month.
HSL promotes Venessa Hodgson, as CEO Guy Critchlow exits
HSL has appointed Venessa Hodgson as managing director designate following the departure of CEO Guy Critchlow, who has left after over six years with the furniture vertical.
Two-man delivery company placed into administration
A regional logistics company offering services including white-glove two-man furniture deliveries has been placed into the hands of restructuring advisors.