Upholstery News
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- UPHOLSTERY
Upholstery brand Sofa.com maintained high double-digit margin last year despite rising costs weighing against the impact of big sales growth.
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- RETAIL & DISTRIBUTION
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.
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The upholstered furniture manufacturer behind brands including Sofas by Saxon and Timeless Chesterfields enjoyed the strongest financial year in its history through 2021/22.
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ScS, the U.K's second largest upholstered furniture retailer, said it has reversed negative order momentum to make gains since the start of winter, though cash reserves have declined through the period.
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Fabrics supplier Blendworth International more than doubled its turnover through Covid after pivoting to making personal protective equipment (PPE) for the NHS. But the abrupt termination of a five-year contract started a spiral towards insolvency.
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- EVENTS
Organisers have launched the pre-registration process for this year's London Fabric Show, which takes place at the ILEC Conference Centre, Earls Court on February 28 and March 1.
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- UPHOLSTERY
Sofa-in-a-box brand Swyft has eliminated millions of pounds of borrowing as part of a debt-for-equity swap and broader investment that will lead to TV exposure for the fast-growing upholstered furniture company.
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Industry-wide supply chain issues resulted in operational challenges and a downturn in margin as profits tumbled for upholstered furniture supplier La-Z-Boy U.K. last year.
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Upholstery retailer Sofas & Stuff is expanding its collaboration with the Victoria and Albert Museum (V&A) with the launch of a second collection, called Drawn from Nature.
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Direct-to-consumer and wholesale upholstery brand Sofacompany booked high profits despite margins taking a knock from the after-effects of Covid last year.
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- ECOMMERCE
Ecommerce furniture retailer Swoon Editions is free of secured debt after it discharged in full its obligations to an invoice finance provider that provided funding after a restructuring over three years ago.
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- RETAIL & DISTRIBUTION
A South Wales based direct-to-consumer brand selling riser recline chairs, adjustable beds and other mobility aids online and from a regional store network has called in restructuring advisors and ceased trading.
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- UPHOLSTERY
The upholstery group behind the Ashley Manor and Alexander & James brands has begun a consultation with employees at its East Midlands factories as it explores a strategic proposal to transfer production to Dudley.
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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 producers.
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Upholstered furniture company Kingcome Sofas has completed works at its Devon factory designed to boost capacity and make the business more productive.
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Online marketplace Wayfair last year launched a product recall for a Polish-made corner unit as it doesn't meet the U.K.'s strict fire and flammability regulations.
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Six-figure profits helped bolster the balance sheet at Delcor in the first period since a change of ownership at the high-end upholstery business.
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- INTERNATIONAL
Underlying profits reached record levels at Danish furniture retail, supply and investment conglomerate Lars Larsen Group (LLG) last year fuelled by organic growth and acquisitions.
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- RETAIL & DISTRIBUTION
A prominent online furniture brand with a co-owned wholesale arm supplying other retailers has launched a product recall for upholstered sofas and armchairs that do not meet the U.K. flammability regulations.
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- RETAIL & DISTRIBUTION
DFS Group has expanded its supply chain partnership with Wincanton, agreeing a new three-year deal that builds on an existing collaboration for the Dwell furniture brand to additionally include other non-sofa products.
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Upholstered furniture import volumes declined again on the back of continued weak data from China, the largest source of overseas-made sofas sold in the U.K.
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Upholstery vertical Sofa.com has agreed a new third-party retail tie-up as it looks maintain and build its retail footprint amid the evolution of its concession network in sister chain House of Fraser.
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Direct-to-consumer sofa business Maker&Son has made roles redundant as part of plans to restructure and stabilise the embattled upholstery retailer.
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- FLOORCOVERINGS
Former DFS chief marketing and commercial officer Toni Wood has taken another C-suite role in the U.K. furnishings sector after joining Headlam Group as chief customer officer.
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A handful of upstream raw material and semi-finished product suppliers face a shortfall on their debts following the insolvency of a small but long established sofa maker in the West Midlands.
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A mid single-digit decline in order intake at DFS in the second half of the 2022 calendar year masks a big improvement in the past three months, according to the U.K. sofa market leader.
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- SUPPLY & WHOLESALE
U.K. furniture manufacturing turnover rose at below-inflation levels for a third straight month in November according to data out Friday morning.
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- SUPPLY & WHOLESALE
The md of Ercol Furniture [ercol] says the Buckinghamshire manufacturer remains focused on further building U.K. production after it returned to profit in 2021 and maintained that level last year.
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- UPHOLSTERY
Former Tetrad owner and md Janus Cooper will join longtime colleagues Nick Murphy and Annabel Simmons as they introduce the Encore Sofa Company to a widespread trade audience for the first time this month.
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Aberdare sofa maker Ashwood Designs has praised its customers after a period in which it saw record demand combine with unprecedented upstream supply chain disruption.
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- TRADE & INDUSTRY
Most furniture makers plan to make pay awards to staff this year according to the annual wages survey carried out by British Furniture Manufacturers (BFM), the trade association.
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National retailer ScS is the new owner of modular sofa business Snug after it acquired the brand, domain names, website, intellectual property and stock from the administrators of the predecessor operating company.
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- BEDS & MATTRESSES
Airsprung says it is in the process of financially leveraging surplus land and buildings owned by the diversified beds and upholstery group at its Wiltshire headquarters.
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- UPHOLSTERY
The operating company of modular sofa brand Snug has filed a notice of intent to appoint an administrator as potential bidders such as ScS look to complete a deal for either the company or its assets.
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- UPHOLSTERY
Upholstered furniture retailer ScS is among the suitors targeting the acquisition of Snug, the sofa-in-a-box brand that built sales north of £30 million during the height of the pandemic.
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Ekornes, the China-owned upholstered furniture maker and owner of the Stressless brand, is to shed about a quarter of its global workforce and consolidate its Far East manufacturing operations in response to the weaker market.
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Nichola Hornby Bell has joined West Midlands sofa maker Alpha Designs as sales director, succeeding Barry Webb, who will retire following a handover period.
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A secured lender to embattled upholstery business Maker&Son has filed a second notice of intent to appoint an administrator (NOI) as it seeks to protect its position.
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- SUPPLY & WHOLESALE
Living, dining and bedroom wholesaler Balmoral Furniture booked higher profits last year as revenue increased and margin widened as a result of fewer restrictions.
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- UPHOLSTERY
Profits rose by nearly a fifth last year for the U.K. market leader in the supply of flame retardant fabric coatings for the upholstered furniture industry.
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Upholstered furniture and floorcoverings retailer ScS has expanded its store footprint in the north of England with the opening of a ninth store in Yorkshire.
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Revenue climbed by more than a third for Dudley upholstered furniture manufacturer ACL 2002 through 2021/22 amid rising costs that impacted profits.
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West Yorkshire upholstered furniture distributor Scan-Thors (UK) said the acquisition of new production facilities in mainland Europe has helped provide surety of supply and negate input cost pressures.
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The outlook for foam availability and pricing will be pegged to three main pillars through 2023, according to the trade association representing suppliers of polyurethane slabstocks used by the mattress and upholstery industry.
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- UPHOLSTERY
A financial backer of embattled Maker&Son has filed a notice of intent to appoint an administrator in a move designed to protect its position following a series of issues described as beyond the upholstery business' control.
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- RETAIL & DISTRIBUTION
Profits declined for CareCo, the expanding retailer of mobility products including riser recliners and adjustable beds, in a period in which it invested heavily in new store and distribution assets.
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- RETAIL & DISTRIBUTION
Britain's largest hardwood cabinet retailer Oak Furnitureland achieved revenue growth amid rising costs in the year to end June, and says the expansion of its upholstery offer has delivered an autumn boost.
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- UPHOLSTERY
Direct-to-consumer upholstery brand Maker&Son is at the centre of a legal dispute following the sale of the business to a new financial sponsor earlier this year.
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Upholstered furniture imports into the U.K. climbed at the start of the final quarter of 2022 despite continued sluggish figures from China.
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G Plan is collaborating with British furniture restorer and television presenter Jay Blades for an upholstery and cabinet collection designed to take the brand to a wider customer profile.
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A historic sofa manufacturer that also sells branded upholstery from its large retail showrooms in Buckinghamshire has filed a notice of intent (NOI) to appoint an administrator.
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British furniture makers' turnover growth accelerated at the start of the fourth quarter despite the uplift in exports being the weakest since February 2021.
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West Midlands supplier to the U.K. upholstered furniture manufacturing sector books strong profits.
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Upholstered furniture vertical Natuzzi has found a successor to chief financial officer Vittorio Notarpietro after a near 12-month search for a replacement.
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Southern Italian upholstered furniture brand Egoitaliano has a second U.K. monobrand store after a partner launched a new flagship showroom in Surrey.
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- SUPPLY & WHOLESALE
Vida Living, one of the largest suppliers of furniture to the U.K. market, found big sales growth last year but profits declined as rising input costs meant gross margin narrowed.
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Upholstered furniture manufacturer Lebus appointed a finance director designate ahead of the retirement of longtime finance director Darrell Bettany last month.
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- RETAIL & DISTRIBUTION
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.
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- UPHOLSTERY
Upholstery and curtain fabrics wholesaler Fryett's booked larger profits through 2021/22 as the easing of Covid restrictions aided demand for its products.
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Quick-ship sofa-in-a-box brand Snug has launched The Maverick, its first fully modular and customisable upholstery programme.
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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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- BEDS & MATTRESSES
Top line growth and the benefits of earlier restructuring helped the Sweet Dreams beds and upholstery group record its smallest deficit in three years through 2021/22, new accounts show.
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Italian sofa conglomerate Natuzzi has hired a 20-year furniture executive with an architecture and retail design background with a brief to drive improvement across its own-run and third-party showroom network.
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- RETAIL & DISTRIBUTION
Shaun Cook has left his role as director of retail at DFS-owned upholstered furniture chain Sofology. An interim successor is already in place at the Warrington based retailer.
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Upholstered furniture giant Natuzzi enjoyed a €9.2 million bottom line swing in the third quarter, but it cautioned of tougher times to come with shoppers worldwide rethinking their spending plans.
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What's done can't be undone, for direct-to-consumer Stratford-upon-Avon sofa manufacturer.
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- RETAIL & DISTRIBUTION
Upholstery and flooring chain ScS says it is trading resiliently through a challenging period with order intake growth having returned through the autumn.
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- SUPPLY & WHOLESALE
United Furniture Industries, the company behind Lane, one of the most storied furniture brands in the U.S., has closed down without warning, putting thousands of jobs at risk.
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- UPHOLSTERY
Direct-to-consumer upholstery brand Abakus Direct booked a second straight year of six-figure profits in 2021 as it continued to bounce back from a restructure four years ago.
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Man Wah Holdings, the world's largest recliner company, booked higher profits in the six months to end September despite geopolitics impacting its manufacturing business in Europe.
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- DEALS & FINANCE
U.K. sofa and bed makers will continue to be able to buy foam from three major sources after the regulator here agreed Carpenter could buy Recticel's engineered foam unit, but only if the bulk of the British business is sold.
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- UPHOLSTERY
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 third quarter. It followed weaker demand, with China bearing the brunt.
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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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The group behind the Stressless and IMG furniture brands booked lower revenue in the U.K. and Ireland in the third quarter as demand softened. Year-to-date numbers remain well ahead.
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- SUPPLY & WHOLESALE
U.K. furniture production volumes declined at the end of the third quarter as manufacturers grappled weaker order books amid rising costs.
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- UPHOLSTERY
The Halo Creative & Design group acquired a stake in a second British sofa maker last year as it bolstered its U.K. upholstery manufacturing credentials, new filings reveal.
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Furniture conglomerate Actona Group says it has given the vast showroom at its Danish headquarters an extreme makeover as part of plans to make every visit by trade customers an experience.
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Sofa market leader DFS has appointed John Fallon as its new chief financial officer (CFO), succeeding Mike Schmidt, who left last month to join value retailer B&M.
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- SUPPLY & WHOLESALE
A survey of leading British furniture manufacturers has laid bare the impact of rising production costs on their businesses, with many now struggling to turn a profit.
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- UPHOLSTERY
Sofa market leader DFS has added Laura Ashley to its roster of third-party brands with a collection of upholstered furniture.
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There were seven bidders in the frame for the historic Sofa Workshop brand ahead of its sale earlier this year, restructuring advisors have said in a new report.
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- RETAIL & DISTRIBUTION
Upholstery market leader DFS said customer demand outperformed its own expectations in the past six weeks as a positive order trend returned.
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- RETAIL & DISTRIBUTION
High post-lockdown demand helped small-space living specialist The Futon Company maintain positive momentum as it again recorded highest-ever sales and profits in the past year.
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- EVENTS
The next edition of upholstery, mattress and furnishing fabrics exhibition The London Fabric Show will feature an expanded international footprint, organisers have announced.
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- DEALS & FINANCE
Upholstery fabrics group Mobus has acquired Clarkson Textiles, a key processor and supplier of flame retardant treatments to the furnishing and allied markets.
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- RETAIL & DISTRIBUTION
A central London property that has been home to myriad upholstery brands over the years has housed its last furniture industry tenant, if new plans for the six-storey building are approved.
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Danish upholstery brand Sofacompany added new showrooms and absorbed input price pressures as it prioritised the top line over profits growth in the past year.
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The upholstery manufacturing unit of retail giant Next recorded its highest ever output in the six years since it started production through the post-lockdown period.
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Nottinghamshire upholstered furniture producer Whitemeadow has promoted Alan Price in a move that also gives him a seat on the board of directors.
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- SUPPLY & WHOLESALE
Cabinet and upholstery supplier Mark Webster Designs sold the vast majority of its stock to its largest customer two weeks ahead of the formal appointment of administrators as it sought a managed wind down of the business.
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- SUPPLY & WHOLESALE
Actona Group found top line gains as the Danish furniture conglomerate expanded its global activities through acquisitions in 2021/22.
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Nichola Hornby Bell, one of the highest-profile sales directors in the U.K. sofa industry, has decided to leave upholstered furniture manufacturer Westbridge.
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- SUPPLY & WHOLESALE
Renewed upstream supply chain price pressures will result in further rises being passed on to retailers, as new inflation figures out Wednesday showed continued stubbornly high rates across the industry.
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The private equity backer of sofa makers Westbridge and Tetrad has appointed a new group chief executive at parent company Belfield.
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- DEALS & FINANCE
The sale of the Usleep mattress division to the Vita Group helped Westbridge owner Belfield to deleverage last year with it eliminating all outstanding bank debt and shareholder loans.
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- UPHOLSTERY
Chinese upholstery volumes almost halved at the end of the summer as some buyers looked elsewhere and others waited for goods held up by production delays because of Covid.
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Profits returned despite one-off costs for sister sofa makers Westbridge Furniture and Tetrad as they recovered some of the revenue lost to the impact of the pandemic last year.
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- TRADE & INDUSTRY
The rate of British furniture manufacturing growth climbed for the first time in three months in August, according to official data released Wednesday morning.
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The chairman and founder of a Chinese upholstery manufacturing group that used to own a 22-store U.K. furniture retail chain has a new chief executive after the current incumbent stepped down.
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Order intake is down double-digit in the past ten weeks but ScS says it is well placed to ride out the tightening economic backdrop with it having built a huge cash pile and no debt.
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Adjusted profits jumped by a third at upholstery and soft furnishings fabrics group Romo last year as the company found growth in the U.K. and abroad.
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- SUPPLY & WHOLESALE
U.K. listed textiles group says part of its German-based operations has struggled as a result of weak consumer confidence.
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- RETAIL & DISTRIBUTION
Upholstery brand Maker&Son says it was fully committed to fulfilling all creditors obligations ahead of it being forced into an insolvent restructure after a single creditor didn't support its plans following its summer buyout.
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- RETAIL & DISTRIBUTION
Restructuring advisors are trying to unpick the situation at £25 million sofa brand Maker&Son after the trading company behind the business was placed into administration earlier this week.
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- BEDS & MATTRESSES
The U.K. arm of foam conglomerate Carpenter says input cost pressure led to "inevitable and necessary adjustments to selling prices" but they still weren't enough to stop profits here falling to £14.1 million.
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Plumbs traded strongly post lockdown as the sofa covers, re-upholstery and curtains company narrowed its net loss and generated positive cashflow last year.
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La-Z-Boy U.K. has promoted Richard Greenwood to managing director with current incumbent Mark Draper also seeing his status elevated. He has become vice president, International.
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A slide in gross margin impacted the bottom line last year at upholstery group TCM Living, parent to Ashley Manor, AMX Design, Alstons and Alexander & James.
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Southern Italian sofa conglomerate Natuzzi has bolstered its senior leadership team with three new hires, including two who join from luxury brands Versace and Louis Vuitton.
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Natuzzi achieved high single-digit revenue growth in the second quarter but it could have delivered much more but for the enforced closure of its plant in Shanghai as the Chinese Government tried to keep a lid on Covid infections.
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- SUPPLY & WHOLESALE
Britain's sofa and mattress makers are being landed with a new wave of price increases from across the upstream supply chain according to correspondence seen by The Furnishing Report. Some suppliers are also on allocation.
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- UPHOLSTERY
New borrowing and operating cashflow helped the privately-owned Whitemeadow group fund heavy capital expenditure last year as the East Midlands upholstery manufacturer invested in production.
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- DEALS & FINANCE
A U.S. advisory firm has been hired to find a third-party buyer for Recticel's comfort foam operations in the U.K. in a move designed to end an antitrust probe.
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Expanding upholstery retailer Sofas & Stuff is to launch its third new store this year and its first in Surrey.
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- RETAIL & DISTRIBUTION
Upholstery and beds vertical HSL repaid a £4 million bank loan two years ahead of time as it generated cash and traded strongly through the rump of the pandemic.
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- UPHOLSTERY
Upholstery and flooring retailer ScS has named John Walden as the successor to non-executive chair Alan Smith, who will retire in just over a year from now.
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- SUPPLY & WHOLESALE
Platt & Hill, a supplier of foam and fibre fillings products to the beds and upholstery manufacturing sectors, slipped to a loss last year as higher costs outweighed the benefit of increased output.
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Sofa manufacturing group TCM Living has recruited two well-known furniture industry executives to fill senior managerial posts at its Ashley Manor Upholstery and Alexander & James business units.
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Profits declined at sofa maker Lebus Upholstery last year as the Lincolnshire manufacturer grappled higher labour and raw materials costs in the year of its sale to employees.
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London based upholstery retailer The Sofa & Chair Co has seen its liabilities slashed after HM Revenue & Customs backed a company voluntary arrangement (CVA) that sees millions of pounds of debt compromised.
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- BEDS & MATTRESSES
A share buyback concentrated the ownership structure of the North Wales manufacturing and retail group behind the Adjustamatic beds and upholstery brand last year.
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- RETAIL & DISTRIBUTION
Gross margin narrowed across the DFS group through 2021/22 with rising costs and supply chain disruption countering a sharp rise in deliveries as the upholstery market leader unwound its large order bank.
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- RETAIL & DISTRIBUTION
The addition of seven new stores helped upholstery retailer Sofology find revenue growth in the year to end June though the expansion of its retail footprint will slow in the new financial year.
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- RETAIL & DISTRIBUTION
High-profile furniture industry executive Suzy McMahon is leaving Sofology to take up a newly-created role at Oak Furnitureland, the U.K.'s largest hardwood furniture retailer.
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- UPHOLSTERY
Adriana, the central European upholstered furniture maker and DFS supplier, upped its stake in the U.K. sofa chain on Monday, following up on its initial disclosure last week.
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- UPHOLSTERY
The value of sofa imports climbed for a 19th straight month in July despite continued poor data from the U.K.'s largest trading partner in the category.
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Upholstery retailer Sofas & Stuff will open its 22nd showroom with the launch of a new unit in Leamington Spa, Warwickshire this weekend.
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- RETAIL & DISTRIBUTION
Steve Johnson, a non-executive director at DFS since the end of 2018, is to succeed Ian Durant as chair of the U.K.'s largest upholstered furniture retailer.
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- UPHOLSTERY
The Cath Kidston brand has entered the furniture market with a programme of upholstery and beds being sold exclusively by sofa market leader DFS.
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- TRADE & INDUSTRY
Furniture makers' output remained positive on a year-on-year basis during the height of the summer though growth was the weakest since lapping the start of the pandemic.
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- UPHOLSTERY
Shares in DFS climbed to their highest level in nearly four weeks as the U.K.'s largest upholstered furniture retailer reacted to Polish sofa maker Adriana acquiring shares in the business.
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- UPHOLSTERY
The sofa group behind the Ashley Manor and Alexander & James brands is preparing for the planned departure of group creative director Scott Coggan, one of the highest-profile designers in the upholstery sector.
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- RETAIL & DISTRIBUTION
ScS says the new Ideal Home upholstery collections that first aired at its new-concept Coventry store earlier this summer (see related) will be rolled out across all of its U.K. stores and online.
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- SUPPLY & WHOLESALE
Northern Ireland based furniture wholesaler Annaghmore Agencies recovered some of the revenue lost to the pandemic last year in a period that saw it build its inventory position.
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- UPHOLSTERY
Sofa Brands International, parent to many of the largest upholstery brands in the U.K., is undergoing a restructuring process that has resulted in the departure of a number of senior executives, and other officials being handed new roles.
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- RETAIL & DISTRIBUTION
Sofa and flooring chain ScS opened the third of its new-format retail stores this weekend with a revamped unit in South Lanarkshire.
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- UPHOLSTERY
Upholstered furniture maker and retailer Arlo & Jacob is shifting its headquarters to the East Midlands in a move that will result in the closure of its former base in West London.
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- REGIONAL
A three-store sofa retailer with branches across the East Midlands has deleveraged its business after paying down long term debt during a profitable year to April 30, 2022.
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- SUPPLY & WHOLESALE
The probability that three major foamers will continue to serve the U.K. mattress and upholstery markets has increased after Carpenter and Recticel conceded the planned takeover of the latter's engineered foam unit would lessen competition.
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- RETAIL & DISTRIBUTION
A Chicago-area investment firm has doubled its position in ScS, the U.K.'s number two upholstered furniture retailer.
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- UPHOLSTERY
Second quarter profits declined at Stressless and IMG brand owner Ekornes as higher prices and increased deliveries could only partially mitigate against rising costs.
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One of the world's most famous furniture and product designers has lent his creative skills to a new sofa model launching in the U.K. this week.
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- UPHOLSTERY
The Shanghai-listed upholstery group behind brands spanning Kuka and Rolf Benz among others shrugged off the impact of local Covid measures to find top and bottom line growth in the first half of 2022.
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- UPHOLSTERY
Refund requests outstripped sales revenue on some days during the worst of the supply chain crisis according to administrators handling the fallout from a once prominent ecommerce upholstery business.
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- BEDS & MATTRESSES
Recticel says the disposal of the business unit taking in its comfort foam activities serving U.K. mattress, sofa and direct-to-consumer brands will be delayed, possibly until the first quarter of 2023.
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- UPHOLSTERY
Rising prices and increases in the value of both domestic production and imports helped the U.K. sofa market reach an all-time highest value last year, beating the previous record set in 2016.
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- RETAIL & DISTRIBUTION
More than 50 global furniture equities spanning market leaders in the U.K. and China saw the value of their shares fall on Tuesday on a grim day for the home furnishings industry.
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- SUPPLY & WHOLESALE
The Competition and Markets Authority (CMA) has named the officials who will make up the inquiry group looking into the takeover of Recticel's Engineered Foam unit by Carpenter.
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- SUPPLY & WHOLESALE
Furniture exports climbed in the three months to end June on the back of strong growth from the two largest buyers of U.K.-made goods.
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- RETAIL & DISTRIBUTION
Upholstered furniture and floorcoverings retailer ScS has relaunched its Gateshead store in the North East as part of a plan to roll out new concept showrooms with a series of technological and visual enhancements.
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