Deals, Finance & Restructuring
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- UPHOLSTERY
A small West Yorkshire manufacturer of modular sofas and upholstered bed frames has been placed into liquidation within eight months of an ownership change.
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- UPHOLSTERY
A fourth West Midlands upholstery company managed by former suppliers to Walmsley's has entered insolvency, leaving creditors owed the thick end of £1 million.
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- FLOORCOVERINGS
One of the largest single-store carpet retailers in the South West of England faces an uncertain future after administrators were lined up to take control of the company's affairs late last week.
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- UPHOLSTERY
The scion of a Chinese domestic appliance conglomerate is to acquire a controlling stake in Jason Furniture (Hangzhou) Co, one of the world's largest upholstery producers and a major white-label sofa source for large U.K. retailers.
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- UPHOLSTERY
London based upholstered furniture manufacturer and retailer The Sofa & Chair Co has so far kept to the terms of a company voluntary arrangement (CVA) agreed with HM Revenue & Customs and other creditors a year ago. It follows the finding of cost savings and space consolidation.
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- CASE GOODS
A French retailer with a U.K. turnover of £75 million has agreed to pay damages and costs to Cambridgeshire cabinet furniture supplier Teemo Designs after an intellectual property (I.P.) dispute.
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- FLOORCOVERINGS
A West Midlands carpet retailer has folded leaving large tax liabilities but no debt to suppliers. Its owners launched a new flooring company earlier this summer.
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- CASE GOODS
Bespoke kitchens and furniture supplier Christopher Peters Kitchens & Interiors has been placed into liquidation with consumers owed in excess of £400,000.
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- UPHOLSTERY
Pimol Srivikorn, chairman and major shareholder in TCM Living, says it is time the industry heard about the takeovers of two of the U.K.'s largest sofa makers "from the horse's mouth." As well as telling us what is coming next.....
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- RETAIL & DISTRIBUTION
ScS said it expects to upgrade a further dozen stores in the current financial year but the upholstery and flooring chain has cautioned that trade has become harder in recent weeks.
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- CASE GOODS
Privately-owned Wiltshire cabinet manufacturer Sylvawood Furniture has been placed into administration.
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- DEALS & FINANCE
The Giomani Designs' affiliate that acquired the assets of Victoria Plum will pay £7.8 million in all as part of the transaction that saw it rescue the circa £100 million turnover bathroom products retailer.
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- FLOORCOVERINGS
Flooring distributor Kellars has expanded its distribution network with the buyout of an independent South Wales supplier.
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- RETAIL & DISTRIBUTION
Restructuring advisors have queried an asset sale that led to a new entity under common control taking over the retailer trading as The Children's Furniture Company earlier this year.
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- CASE GOODS
Two experienced managers have acquired Cheshire furniture maker and retailer Bluebell Fitted Furniture in a leveraged buyout that provides an exit path for the business' two founders.
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- RETAIL & DISTRIBUTION
Lighting, home accents and furniture retailer Pagazzi has effected a corporate reorganisation that looks to have secured its future.
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- DEALS & FINANCE
Bedroom furniture retailer Sharps has acquired Fittingly, the Stoke-on-Trent challenger fitted furniture brand that launched shortly before the pandemic.
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- RETAIL & DISTRIBUTION
More furniture and flooring industry companies filed for insolvency in the third quarter of this year than in the first three quarters of 2021 combined as tough trading across the sector led to record corporate imperilment.
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- DEALS & FINANCE
Restructuring advisors have disclosed the terms of the rescue of kids furniture and toys retailer Great Little Trading Company, whose assets were sold in a prepack buyout a month ago.
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- UPHOLSTERY
Halo Creative & Design, the circa £150 million turnover international furniture group, has increased its equity position in South East sofa manufacturer Dudgeon.
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- RETAIL & DISTRIBUTION
An affiliate of the company behind ecommerce-led retailers Beds.co.uk, Cox & Cox and Moda Furnishings has completed a prepack rescue of Victoria Plum, the £114 million turnover online bathroom products retailer.
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- BEDS & MATTRESSES
The CEO at Beales has retaken control of the department store retailer, ending its spell in the same corporate group as home furnishings chain Fabb Furniture.
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- RETAIL & DISTRIBUTION
Restructuring advisors were called in to the £5 million company behind ecommerce beds retailer Bed SOS after an investigation that saw stock seized at a sister retail business unit.
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- RETAIL & DISTRIBUTION
A serial West Yorkshire investor in distressed assets has come to the rescue of ecommerce kids furniture retailer Great Little Trading Company after it was placed into administration earlier this week.
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- RETAIL & DISTRIBUTION
Home and leisure retailer The Range has agreed to buy the brand and other intellectual property of Wilko, the hardware and convenience store retailer that filed for insolvency last month.
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- DEALS & FINANCE
H.I.G. European Capital Partners (H.I.G.) has launched a takeover approach for delivery and logistics company DX (Group), one of the largest operators in U.K. furniture and beds fulfilment.
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- RETAIL & DISTRIBUTION
Restructuring advisors at Kroll says they have released an initial multi-million pound distribution to a subsidiary of retail giant Frasers Group, the secured creditor of insolvent TV shopping network Ideal World.
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- BEDS & MATTRESSES
The Dewsbury beds manufacturer behind the Komfet brand has filed for insolvency leaving creditors facing a forecast shortfall of approaching £2 million.
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- FLOORCOVERINGS
Flooring giant Headlam last Wednesday completed the second of two under-the-radar summer acquisitions as the Midlands wholesale giant continues to bolster its distribution network.
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- RETAIL & DISTRIBUTION
Furniture retailer Home Outlet Store opened its new Oxfordshire branch last Friday after the reverse logistics specialist completed a previously-signposted buyout of Trade Secret's assets.
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- RETAIL & DISTRIBUTION
Furniture retailer Loaf was the largest industry creditor of Trade Secret, the returns and cancelled orders specialist that folded earlier this summer.
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- DEALS & FINANCE
Three well-known kitchen and tableware brands operated by a Derbyshire supplier that historically generated annual sales of close to £10 million have been rescued via an insolvent buyout.
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- FLOORCOVERINGS
Turnover went from over £9 million in 2019 to a fraction of that within two years as the Covid-19 pandemic obliterated a leading flooring contractor's business, leading to its eventual closure.
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- DEALS & FINANCE
The South Wales group that rescued Midlands kitchen manufacturer Mereway last week did so through a new corporate entity.
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- SUPPLY & WHOLESALE
A freight forwarder later named one of the largest unsecured creditors of Kettle Interiors U.K. had become its landlord three months before the furniture wholesaler's insolvent restructure earlier this year.
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- UPHOLSTERY
Falling orders and rising costs meant Acclaim Upholstery was unable to service its debts ahead of the private label sofa maker being placed into administration earlier this summer, according to a new report by restructuring advisors.
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- BEDS & MATTRESSES
Restructuring advisors have pinned the closure of West Yorkshire cot and mattress supplier The Hand Made Mattress Company on a steep fall in sales following the loss of two major customers.
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- FURNISHINGS & ACCENTS
Restructuring advisors have been called in at Bridstock Gate, the bedding suppler that trades as Portfolio Home, after the company was hit by a downturn in trade.
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- SUPPLY & WHOLESALE
Wallpaper company Graham & Brown has begun a consultation with employees after proposing to close a manufacturing facility in Blackburn, the Lancashire town where it was founded in 1946.
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- BEDS & MATTRESSES
A North West supplier will manufacture, market and relaunch the Brook + Wilde brand after the direct-to-consumer mattress retailer's former operating company was placed into liquidation last week.
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