DeCoro secures finance agreement to quell rumours for second time this year

25th November | upholstery | Sofa manufacturer DeCoro has moved to quash rumours of financial difficulty for the second time this year. The firm, which manufactures Italian designed upholstery out of two vast factories in Shenzhen, China, has agreed a deal with China Construction Bank that will free up further capital and overcome difficulties understood to have affected production and delivery cycles in recent weeks.

The company, thought to be a major supplier to both Reid and Land of Leather in the UK, was earlier this year forced to issue a statement following what president Luca Ricci described as ‘freefall rumours from jealous people.’

At the turn of the year the company had been the subject of industry gossip following the bankruptcy of two its major US stockists, Levitz and Wickes. The rumours then, as now, surfaced around the time of the major biannual US furniture fair at High Point in North Carolina.

Ricci said, ‘We had a very good Market in High Point in October, and this [finance agreement] allows us to move forward quickly with our customers on successful new models, especially in the motion category.’