Sunday, December 4, 2022
Sofa.com owner rescues luxury homeware brand Amara
Frasers Group, owner of House of Fraser and Sofa.com, has acquired upmarket homewares brand Amara in a deal brokered by restructuring advisors.
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ScS begins CFO search as Muir signposts intent to step down
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
Sales, profits jump for sofa fabrics wholesaler
Upholstery and curtain fabrics wholesaler Fryett's booked larger profits through 2021/22 as the easing of Covid restrictions aided demand for its products.
Sofa brand Snug launches any-size modular programme
Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
Next pays £41m for Joules Group assets and HQ
General merchandise retailer Next has partnered Tom Joule to acquire the majority of the assets of lifestyle brand Joules out of administration in two transactions worth a total of £41 million.
Flooring distributor maintains upwards sales momentum
Revenue continued to trend upwards for Likewise Group during mid–late autumn as growth accelerated for the floorcoverings supplier through October and November.
Bed spring maker says new sustainable glue tech will improve recyclability
Spring maker Wolf Components will assemble its pocket units utilising polymer-based glue from the start of 2023 in a move it says will deliver significant recyclability improvements.
Delivery company files notice of intent to appoint administrators
A South East courier company offering next-day parcel delivery including bulky items such as furniture flatpacks has filed a notice of intent (NOI) to appoint administrators.
Software company joins Furniture Makers' as corporate member
3CAD, a visual configure, price, quote (CPQ) software provider, has joined The Furniture Makers’ Company, the City of London livery company and charity to the furnishing industry, as a corporate member.
Online retailers boost Welcome Furniture but tough contract market hits profits
Profits fell sharply at Gwynedd cabinet maker Welcome Furniture in the past year as strategic partnerships with online retailers failed to fully mitigate a tough contract market.
Cabinet maker spends millions building capacity
Welcome Furniture took on additional debt as it invested millions of pounds building additional capacity through 2021/22, new figures show.
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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Furniture and home retailer Garden Trading and parent Joules brace for administration
Joules Group, the parent to furniture and home retailer The Garden Trading Company, has filed a notice of intent to appoint administrators (NOI) after attempts to procure rescue funding failed.
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Upholstery group TCM Living finds going tougher as 2022 progresses
The upholstery group that owns Ashley Manor, Alstons, AMX Design and Alexander & James slipped to a third quarter net loss on lower demand, higher costs and the weaker pound.
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Restructuring advisors task auctioneers with Made.com stock sell-off
Made.com (Made) administrator PwC has instructed John Pye Auctions to sell the entirety of the fallen furniture, lighting and homeware retailer's unsold U.K. stock.
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First sofa import fall in 20 months as buyers shun China
Soaring inflation on overseas-made goods wasn't enough to prevent a first slide in the value of sofa imports in 20 months at the end of the first quarter. It followed weaker demand, with China...
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Mattress imports up for eleventh straight month
Emerging manufacturing markets helped mattress imports into the U.K. continue to rise in September despite weaker figures from more established sources.
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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Insolvencies & closures: Filings in the week to Dec. 2, 2022
15 companies were either closed or filed for insolvency in the past seven days.
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Debt Report: Filings in the week to Dec. 2, 2022
Six companies left creditors facing £2.1 million shortfall.
TOP STORIES
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Sofa.com owner rescues luxury homeware brand Amara
Frasers Group, owner of House of Fraser and Sofa.com, has acquired upmarket homewares brand Amara in a deal brokered by restructuring advisors.
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Fitted furniture group pays £13m in dividends to shareholders
The private equity backed group that owns custom fitted furniture maker Neville Johnson paid eight-figure dividends to shareholders in a period when it agreed extended borrowing and saw trading profits fall.
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Mattress brand Emma faces probe from U.K. antitrust regulator
Direct-to-consumer and wholesale mattress company Emma Sleep is being investigated by the U.K.'s antitrust regulator over concerns some of its online sales practices may have breached consumer law.
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Bridgend sofa maker rebuilt headcount amid Halo Group investment
The South Wales sofa manufacturer that sold a majority stake to Halo Group's Andrew Martin International business last autumn rebuilt employee numbers to pre-pandemic levels in the past year.
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Deal terms disclosed for flatpack furniture stake sale
The East of England furniture holding company that acquired a chunk of a longtime Argos flatpack furniture supplier earlier this year has revealed the financial terms of the transaction for the first time.
ADVERTORIAL
Furniture retailers need to tightly manage supply chain as consumers cut spending
The cost of living crisis is expected to hurt demand for home furnishings throughout 2023, but better supply chain data can help furniture brands stay in control.
OTHER NEWS
ScS begins CFO search as Muir signposts intent to step down
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
Sales, profits jump for sofa fabrics wholesaler
Upholstery and curtain fabrics wholesaler Fryett's booked larger profits through 2021/22 as the easing of Covid restrictions aided demand for its products.
Sofa brand Snug launches any-size modular programme
Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
Next pays £41m for Joules Group assets and HQ
General merchandise retailer Next has partnered Tom Joule to acquire the majority of the assets of lifestyle brand Joules out of administration in two transactions worth a total of £41 million.
Flooring distributor maintains upwards sales momentum
Revenue continued to trend upwards for Likewise Group during mid–late autumn as growth accelerated for the floorcoverings supplier through October and November.
Bed spring maker says new sustainable glue tech will improve recyclability
Spring maker Wolf Components will assemble its pocket units utilising polymer-based glue from the start of 2023 in a move it says will deliver significant recyclability improvements.
Delivery company files notice of intent to appoint administrators
A South East courier company offering next-day parcel delivery including bulky items such as furniture flatpacks has filed a notice of intent (NOI) to appoint administrators.
Software company joins Furniture Makers' as corporate member
3CAD, a visual configure, price, quote (CPQ) software provider, has joined The Furniture Makers’ Company, the City of London livery company and charity to the furnishing industry, as a corporate member.
Online retailers boost Welcome Furniture but tough contract market hits profits
Profits fell sharply at Gwynedd cabinet maker Welcome Furniture in the past year as strategic partnerships with online retailers failed to fully mitigate a tough contract market.
Cabinet maker spends millions building capacity
Welcome Furniture took on additional debt as it invested millions of pounds building additional capacity through 2021/22, new figures show.