Major independent readies £2m stock clearance; Makeover for flagship store
INDEPENDENTS | REFURB
Glasswells is to host its largest ever stock clearance sale in advance of the refurbishment of its flagship Bury St Edmonds store. The retailer, recently voted the country’s best by AIS suppliers, will shift £2m worth of product during the sale.
Reid improves margin following factory closure
RETAIL | SALES
Reid Furniture returned an operating profit of £752,000 in the year to 28th June, a vast improvement on the £1.7m loss it posted the year before.
IN BRIEF | 1ST MAY
Deadly sofas destroyed by Trading Standards
Non fire retardant sofas and mattresses seized by Trading Standards in Northampton are to be destroyed. The furniture, being sold by a company called XRH, was being offered to consumers via the Internet auction site eBay.
Carpetright to up marketing spend
Flooring retailer Carpetright is to increase its advertising budget by 15% by switching much of its spend to television and away from printed media. It hopes to grow market share despite its own faltering recent sales performance, which has seen sales fall by more than 10% in the past half year. Chief rival Allied is thought to be considering closing some of its stores.
Lean manufacturing workshops launched
The Manufacturing Advisory Service is to run a series of free best practice workshops in the West Midlands. The sessions will be delivered by Oneflow, a consultancy with expertise in furniture manufacturing. Firms wishing to take part can find out more by calling 01248 671 101 or visiting www.manufacturingmatters.co.uk
Retail consumer store credit soars despite lending squeeze
RETAIL | CREDIT
Interest free credit and buy now pay later deals are helping furniture retailers defy the credit crunch. Store instalment credit, used to fund big-ticket furniture purchases, rose 8% year on year to £206m in February, according to the Finance and Leasing Association.
IN BRIEF | 30TH APRIL
Land of Leather stores winding down
Just two Land of Leather stores remain open as the collapsed sofa retailer winds down operations. They are the Beckton store in London, and the West Thurrock store on the Lakeside Retail Park. Land of Leather went into administration on 12th January.
Howdens sales fall; Sofa Workshop rent
Trade kitchen supplier Howdens saw sales drop 8.8% in the 16 weeks to 18th April. The firm is also counting the cost of its former relationship with MFI. When the two firms parted company Howden parent Galiform agreed to act as guarantor for some of the retailer’s leases. It now emerges it will have to shell out up to £1m to pay the rent for some ex Sofa Workshop stores, a one time MFI subsidiary.
Hilco is new Allied Carpets owner
Hilco is the lead investor in flooring chain Allied Carpets. The retailer was recently sold by French owner Tapis Saint-Maclou to American offshore fund Sigma Capital. Hilco has been linked with a string of home furnishing chains over the past year.
Furniture and homeware are Argos’ weakest performers; Focus on Internet only bed sales
MULTICHANNEL | STRATEGY
Argos is to ramp up its Internet only beds offer in the next year as well as increase the number of products it sources direct from overseas manufacturers.
Bed trade appoints first supplier president
BEDS | APPOINTMENTS
Anthony Joyce has been elected president of the National Bed Federation, taking over from Hypnos Beds’ Peter Keen.
Joyce (pictured), who runs component supplier Leggett & Platt’s European division, is the first non-bed manufacturer to lead the industry collective in its 97-year history.
IN BRIEF | 28TH APRIL
AIS retailer offers hope to angry consumers let down by rival
Consumers who fear they may have lost deposits put down on furniture at World Furnishings in Sunderland have been invited to take advantage of special deals by a rival retailer. AIS member Michael O’Connor says it will do its best to offer consumers a deal if, as expected, the closure of two-store World Furnishings is confirmed as being permanent.
Like for likes tumble at Carpetright; two Storey Carpets stores close
UK and Ireland sales at flooring chain Carpetright fell 6.7% in the 25 weeks to April 25 2009. Like for like sales during the period have dropped by more than 15%. The retail chain has opened a net five Carpetright stores since October 25, but has closed a net two Storey outlets, bringing the total to 37.
Retail web sales continue to climb
Internet retail sales in March jumped 19% year on year and 9% on February, according to the IMRG Capgemini e-Retail Sales Index. Results for the first quarter show a 17% increase on 2008 – 2% ahead of IMRG start of year forecasts. The analyst said, however, that results varied considerably across different retail categories.
Yorkshire furniture boss plans 40-store chain
FURNITURE | LAUNCH
An independent furniture retailer in Yorkshire is planning to open 40 stores across the region in the next two years, according to local news reports.
Housing market dominates industry budget reaction
BUDGET | REACTION
Chancellor Alistair Darling should have done more to put life back into the housing market in last week’s Budget, according to a Furnishing Report survey of the UK furniture and flooring industry.
IN BRIEF | 27TH APRIL
BHS to push home offer as it switches delivery supplier
Dutch logistics firm Kuehne + Nagel is the new furniture delivery supplier for BHS. The firm, recently dropped by Marks & Spencer, will take delivery direct from manufacturers for the retail group and provide services including warehousing and a ‘white glove’ customer delivery operation.
Sales progress for Liberty but one off costs harm profitability
London department store Liberty recorded a 9% climb in sales to £50.2m in the year to December 31st. However, the turnover rise failed to prevent the firm’s losses increasing to £7m after investment in its Sloane Street store.
Retail sales volumes climb 0.3% in March
The Office for National Statistics says retail sales in March improved by 0.3% on February and 1.5% on a like for like basis compared with the same month in 2008. Furniture and lighting remained were poor performers though, as textiles, clothing and footwear saw an uplift.
Airsprung buys mattress manufacturer for £300k
BEDS | ACQUISITION
The Airsprung Furniture Group has acquired mattress manufacturer and supplier Hush-A-Bye for £300,000. It will pay £30,000 upfront with the remainder deferred for the firm which made an £84,000 operating profit in the year to 30th September 2008.
New CEO at Ikea; 10-year veteran Dahlvig to leave post in September
FLATPACK | MANAGEMENT
Anders Dahlvig is to end his 10-year stint as Ikea’s chief executive officer on 1st September. He will be replaced by Mikael Ohlsson, who is currently in charge of the retailer’s business in Southern Europe and North America.
IN BRIEF | 24TH APRIL
Component supplier reports 78% first quarter profits fall
Leggett & Platt, one of the world’s largest component suppliers to the bed trade, has seen a 78% slump in its profits for the first quarter after sales fell by more than 28% to $718.1m. Sales for products destined for residential markets dropped 21%.
French furniture chain hit by weak sofa demand
Falling upholstery sales were a major contributor to a 10% first quarter sales fall at French furniture and electronics retailer Conforama. The retailer’s parent company, PPR, performed stronger overall with sales falling just 2.6% thanks to increased 1QF turnover at its luxury Gucci brand.
Software saves £750,000 for office furniture manufacturer
Office furniture supplier Dams International has made significant cost savings after implementing a new software system that manages its delivery fleet. The Multi Depot transport optimization system from Paragon has helped the firm with delivery planning schedules and resulted in a 20% uplift in daily vehicle deliveries.
‘Opportunistic’ Willis & Gambier can treble turnover to £100m within two years
FURNITURE | GROWTH
More product placements will help Willis & Gambier take its turnover beyond £100m in just a couple of years, according to md Mark Symes. He says the firm will continue to ramp up its living and dining offer to match that of its bedroom cabinet ranges, which have historically accounted for 70% of the firm’s business.
Buyers must prove origins of timber; EU votes to stop illegal logging
TIMBER | IMPORTS
Furniture buyers in the UK will have to prove they know the origins of timber imported into the country following an EU vote aimed at stamping out the sale of illegally harvested wood across Europe.
IN BRIEF | 23RD APRIL
Darling announces credit insurance support; confirms VAT rate hold
Chancellor of the Exchequer Alistair Darling has thrown a bone to the furniture industry by confirming it will support companies struggling to find credit insurance. In yesterday’s budget he announced a top up scheme that will match private sector trade credit insurance provision if insurers reduce their cover to UK businesses. He also confirmed that the 15% VAT rate would not change until December at the earliest.
Ethan Allen three-month sales take a dive
Europe bound furniture firm Ethan Allen saw sales fall 40% in the quarter to March 31st. The US firm, which both manufactures and retails and is due to open European stores soon, blamed stock disposal driven discounting by competitors inside and outside the furniture industry.
Kitchen firm starts property search as it targets 40 stores
KITCHENS | STORES
Kuchenhaus has opened its fifth UK store and plans a further 35 over the next few years. The new 10,000sq ft Hull store is the second Yorkshire outlet for the retail arm of German manufacturing giant Nobilia to open in the past nine months.
IN BRIEF | 22ND APRIL
Scottish retail sales climb year on year
Retail sales in Scotland grew 4.2% in March overall and 0.5% on a like for like basis according to the Scottish Retail Consortium. Like for like sales remained stronger than in the UK as a whole where they were 1.2% below the level for March 2008.
Willis & Gambier parent agrees deal with Incanto Divani
Italian sofa supplier Incanto Divani is to have its Sofitalia promotional brand marketed in the USA by Samson Holding, the company that bought Willis & Gambier out of administration last year. Samson’s manufacturing arm, Lacquercraft, will produce the sofas at its Chinese factory.
Tesco furniture sales suffer
Furniture and homeware sales were among the poorest performing categories for Tesco in the past year, despite the supermarket posting record turnover and profit figures. The grocer blamed the stumbling housing market for weaker homeware demand.
Furniture chain bought for £1 by China’s largest upholstery manufacturer; UK expansion planned
MULTIPLES | BUYOUT
Easyliving Furniture is to become a subsidiary of Chinese upholstery manufacturer Kasen International Holdings in a move likely to spark a rapid store expansion programme.
North east furniture independent shuts without warning
FURNITURE | INDEPENDENTS
A furniture retailer with stores in Newcastle and Sunderland has cleared out its stock and closed, but is yet to confirm that it has shut its doors for the last time.
IN BRIEF | 20TH APRIL
Four store homeware retailer closes
Independent furniture and homeware retailer Big D has ceased trading. Stores in Leicester, Preston and Lichfield have closed although administrator Springfield’s has found a buyer for the firm’s Cannock store.
Ikea switches marketing approach and plans overhaul
Swedish furniture retailer Ikea has changed the distribution model for its customer magazine. The magazine, Ikea Family Live, will now be sent directly to the homes of people who have signed up to the firm’s loyalty card scheme. The retailer is also considering switching marketing agencies for its global ad campaigns.
Furniture manufacturer sees 36.4% sales fall
Cabinet firm Stanley Furniture has reported first quarter sales of $39.8m – down from $62.5m in the same period last year. The manufacturer made a loss in the three months to March 28 of $2.4m.
DFS profit drops 24% to £35.8m following sales fall
UPHOLSTERY | RESULTS
Sofa retailer DFS has reported a sharp fall in profits in the period leading up to start of the recession. In the year to August 2008, the upholstery chain recorded a 24% drop in pre-tax profits to £35.8m.
Soft furnishing supplier warns of worsening sales; focus on reducing cost base
SUPPLY | FURNISHINGS
The parent company of luxury soft furnishing brands Zoffany, Harlequin and Sanderson says it will continue to drive manufacturing efficiencies in light of falling revenues.
IN BRIEF | 17th APRIL
Sales rise for Harvey Norman
Australian furniture retail giant Harvey Norman, which also operates in Ireland, has reported a third quarter sales rise of 3.9% to $998m. Like for like sales for the three-month period also rose, by 1%.
Arthur Brett strengthens contract position
Top end English cabinet manufacturer Arthur Brett has won more contracts in the Middle East. The bespoke case goods firm has been commissioned for further projects by the Amir of Kuwait, after recently supplying £1.4m worth of furniture to the Bajan Palace.
Tempur maintains profit despite sales fall
Worldwide sales at mattress manufacturer Tempur have tumbled 28.4% in the first quarter. However, lower raw material and transport costs have lessened the impact on profit, which was only 1.3% below last year’s levels.
Worst furniture sales for at least nine years, says BRC
RETAIL | FIGURES
Heavy discounting failed to prevent furniture retailers recording their worst sales performance in the past decade, according to the latest figures from the British Retail Consortium, the lobby group that represents mainly large chains.
Dwell in concession departure as it prepares Selfridges launch
FURNITURE | EXPANSION
Furniture and homeware retailer Dwell is to preview its first concession in London this evening. The retailer has until now traded exclusively from its own stores and via mail order and online.
IN BRIEF | 16TH APRIL
Argos launches Summer Home catalogue
Multichannel retailer Argos has launched its Home catalogue for the summer months. The retailer, the UK’s largest furniture retailer by sales volumes, has also extended the number of its showrooms with furniture on display instore to ten.
DIY chain introduces consumer loyalty card
Wickes has launched MyCard – a loyalty scheme that rewards return customers. Cardholders will be able to redeem points earned on future purchases at the retailers’ stores. Rival Homebase recently dropped its own Spend & Save card in favour of joining the Nectar loyalty scheme.
Furniture giants cut advertising spend
MARKETING | MULTIPLES
Furniture retailers DFS, Ikea and ScS made double-digit percentage cuts to their advertising budgets in the past year. According to Neilson Media Research, DFS shaved 11% off its advertising spend but still shouldered an £87m outlay, while north east chain ScS almost halved its budget to £7m.
IN BRIEF | 15TH APRIL
Furniture store Cargo to open garden centre concession
West Midlands garden centre retailer Blooms has agreed a deal that will see furniture chain Cargo open a concession within the store. The Cargo concession will occupy some 4,000sq ft of the Solihull garden centre.
Homewares chain to make UK return
German housewares retailer Butlers plans to open seven stores in the London area. The firm, which launched in the UK four years ago with bold plans to open 80 stores across the country, closed all but one of its six initial stores at the start of last year because of high property costs. It is now plotting a renewed effort to crack the UK retail sector.
Malaysian furniture factories face closure
A 50% increase in the foreign workers’ levy could result in the closure of many furniture factories in Malaysia. The Malaysian Furniture Entrepreneur Association is calling for the Government to review the increase, as manufacturers will not be able to cope with the resulting production cost rises in the current climate of falling orders.
VAT cut has been a success says CEBR
The Centre for Economics and Business Research (CEBR) says the chancellor’s much criticised temporary VAT cut has been a success. The consultancy’s analysis shows that retail sales have been £2.1bn higher in the three months since the 2.5% rate cut was introduced than they would otherwise have been had Alistair Darling not introduced the measures.
Government scheme attacked by independents
14TH APRIL | DIY
A Government initiative to help consumers who have suffered at the hands of burglars has been attacked by independents who say big chains are being favoured. Burgled homeowners will be given free vouchers to spend on replacement goods – but they will only be valid at large DIY chains including B&Q and Focus.
IN BRIEF | 14TH APRIL
Visitor numbers fall 20% at Interiors Birmingham
Interiors Birmingham organiser UBM Live says its 2009 show attracted in excess of 26,000 visitors. The as yet unaudited figure compares with almost 34,000 visitors to its 2008 event.
AIS introduces Easter Willis & Gambier & Celebrity promotions
Buying group AIS launched a consumer email marketing campaign over the Easter period promoting special offers from two of its approved suppliers – Willis & Gambier and Celebrity. The promotion was launched through its internet portal whatfurniture.co.uk, which was set up to promote AIS members.
Consumer website for buy to let furnisher
Buy to let furnisher Style Counsel is to launch an online consumer furniture store. The firm, which supplies landlords with furniture and furnishing packages, hopes to generate a first year turnover of more than £1m from its new ecommerce venture.
Furniture faces ‘domino like collapse’ as BFC slams Government cop out over credit insurance
CREDIT | FEARS
The chairman of the British Furniture Confederation has criticised the lame Government response to fears that the withdrawal of credit insurance could cause viable furniture businesses to collapse like dominos.
Furniture manufacturer diversifies into flooring with carpet/rugs launch
FLOORING | CONTRACT
Top end furniture manufacturer David Salmon has launched a flooring division selling carpets and rugs. The enhanced product offer, branded David Salmon Carpets & Rugs, takes in 31 collections of 196 designs sourced from across Asia.
The move follows parent company McClaren Interiors’ acquisition last year of fellow top end furniture manufacturer Arthur Brett & Sons, which had fallen into administration in the Spring of 2008.
IN BRIEF | 9TH APRIL
Sealy to go back on the television
Bed manufacturer Sealy is to launch a television ad campaign starting this Easter. The Silentnight subsidiary’s nationwide marketing onslaught will feature 30-second spots promoting the firm’s Posturepedic bed range.
Brands suffer in recession
Price and value for money are the two watchwords for consumers during a recession, according to a survey by Buckingham Research. Its findings say more than half of all consumers believe branded goods are a luxury, with a similar number saying branded goods are poor value for money compared to store branded merchandise.
Thai show attracts more buyers than ‘08
8,000 furniture buyers attended last month’s Thailand International Furniture Fair – a near 8% rise on 2008. The public days also saw more visitor interest than in prior years, with a 5% rise in consumers attending the show to 28,000.
Going grey at High Point
This month’s High Point furniture market in the USA is likely to see a trend towards compact upholstery and muted colours such as grey, according to trend analysts who attended the premarket event in March. There will also be an additional focus on promotional products.
Networking hub aims to put British design centre stage in Milan
8TH APRIL | DESIGN
The first overseas British Design Embassy will launch later this month in Milan. Curated by Paul Smith, the networking hub aims to showcase the best of British talent during the iSaloni series of international design events taking place from 22-26 April.
IN BRIEF | 8TH APRIL
Singapore show releases visitor data
The International Furniture Fair in Singapore attracted 15,606 trade visitors from 188 countries, according to its post-show report. The UK was among 104 countries to send a dedicated buying delegation during the March show, which is thought to have seen orders to the value of $245m placed. A further $2.2bn in follow on orders are expected.
New furniture and beds showroom at Wiltshire department store
Knees of Trowbridge has opened a new furniture and beds showroom on the ground floor of its main department store site. The retailer, which sells brands including Old Charm and Sutcliffe, is celebrating its 130th year in 2009.
Two more Chinese fairs to be launched in 2m sq ft JSWB exhibition venue
Exhibition organiser and retail mall owner JSWB is to launch a biannual trade event, starting this September. The Chinese furniture group plans to host the JSWB International Furniture Fairs in Guangzhou, to coincide with the China International Furniture Fairs, which take place in the same region during September and March.
Trading Standards clamp down on fire hazard sofas; 175 confiscated
7TH APRIL | SAFETY
Furniture importer XRH has been fined £12,000 and told to stop selling potentially fatal sofas via the Internet trading website eBay.
IN BRIEF | 7TH APRIL
Brand giant to launch outdoor collection
The parent company of furniture manufacturers Lane and Broyhill is planning an outdoor furniture line. Furniture Brands International has agreed a licensing deal with Foremost Groups, who will produce the Lane and Broyhill branded ranges.
Web update for Satra
Furniture testing and research organisation Satra has relaunched its website. The revamp includes enhanced audio and video content as well as interactive features. To visit the site go to www.satra.co.uk
Furniture store badly damaged in fire
An Essex furniture store could face demolition after a suspected arson attack at the weekend. The Mad Dogs & Englishman furniture store in Leigh was one of three businesses badly damaged in the blaze. A 12-year-old boy has been arrested.
Barker & Stonehouse furthers green credentials
North east furniture retailer Barker & Stonehouse has partnered with a local charity to offer customers a mattress and furniture recycling scheme. The eight-store retailer is working with Hartlepool based Shelve, which finds ways to recycle and reuse components. Barker & Stonehouse is also a co-founder of the timber protecting Trees-4-Trees initiative.
Britain costs less than China; Upholstery firm switches production to South Wales
SOFAS | PRODUCTION
Upholstery supplier Handwriting is to switch production from China to Wales and relaunch next month. The firm, which was introduced at Mid-Point last year by Furniture Village co-founder David Imrie and former Ducal director Steve Parsons, will have its ranges manufactured under license by Aberdare firm Ashwood Designs.
IN BRIEF | 6TH APRIL
MFI opportunist snaps up Empire Direct stock
Resurrected MFI stores could soon be selling electrical goods as well as furniture. Chris Dawson, owner of retail chain The Range, has added £29m worth of electrical goods to the furniture stock bought from the liquidators of failed retailer MFI. As well as Empire Direct stores, he plans to offload the stock in a mixture of The Range stores and ex-MFI outlets.
FIRA calls for DMF checks as ban is ratified
Furniture industry research body and service provider FIRA is recommending all leather furniture sourced from outside the EU be checked for allowable DMF levels. It follows the passing of an EU safety directive limiting the amount of the chemical that can be used in consumer products entering the Eurozone. FIRA has launched a facility allowing importers to check DMF levels at source.
Footfall to rise over Easter as Brits stay home
Experts are predicting higher foot traffic in British retail stores this Easter. The Synovate Retail Traffic Index predicts a 4.1% increase for the Easter fortnight compared to last year as a result of better weather, more foreign tourists, and fewer Brits going away for the holiday period.
Carpet manufacturer bought by former director
Failed contract flooring supplier Avena Carpets has been rescued by one of its former directors, although a fraction of the firm’s employees will be retained. Nick Crossley, whose family set up Crossley’s Carpets in the 1800s, has taken on a skeleton staff at the Halifax firm and says he hopes to grow the business when the recession is over.
Bed spend holds up better as upholstery loses market share
FURNITURE | DATA
Beds and bedroom furniture are maintaining sales stronger than other furniture categories according to a report by retail analyst Verdict Research. It says distress purchasing means big-ticket upholstery is suffering while consumers choose to spend on items driven out of necessity.
IN BRIEF | 3RD APRIL
5.7% like for like uplift in homeware sales
Furniture and homeware sales climbed 5.7% on a same store basis in March, according to the BDO Stoy Hayward High Street Sales Tracker. Overall retail like for like sales rose by 1.3% during the month. Good weather was among the reasons cited.
Marks & Spencer switches furniture delivery suppliers
General retailer Marks & Spencer is to switch logistics suppliers for its furniture delivery operations. It has dropped Dutch firm Kuehne + Nagel and will instead work with Wincanton. The changes come into effect over the course of the next half-year.
Top end kitchen firm opens Herts showroom
Poggenpohl has opened a UK flagship store in St Albans. It is the ninth UK store for the firm, and it will also become the firm’s national headquarters. The company says it will continue to open further stores in strategic locations throughout the country.
Stellar results for Dreams; profits/sales/LFL all up
Bed retailer Dreams has reported an 18% climb in operating profit to £14.4m in the year to December 25th. Sales climbed 16% and like for like sales increased 1.5%. The firm says it will open 30 stores this year, the same number as in 2008.
Carpetright moves into Woolworths store
Flooring chain Carpetright is to open a store in Potters Bar, on the site of the old Woolworths store in Darkes Lane. According to local press reports, fellow retailers are disappointed. They were hoping for a footfall-driving retailer like M&S or Wilkinsons.
Natuzzi cuts fourth quarter loss in half; Sales rise 3%
Profits | upholstery | Italian sofa manufacturer Natuzzi grew sales by almost 3% in the three months to 31st December but still posted a loss of nearly 20m euros. However, this was an improvement on the same period in 2007 when it reported losses of 39.6m euros.........full story
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IN BRIEF | 2ND APRIL
Cotswold Company loses survival battle
Home shopping firm Findel is to close its Cotswold Company operation. The future of the furniture firm, which traded via mail order, the Internet, and concessions, had been subject to an internal strategic review that began in the middle of February.
Polish sofas found to be deadly
Almost 100 sofas seized at a travellers’ site in Essex have failed the UK’s fire safety regulations for furniture and furnishings. An Essex newspaper went undercover over a three-year period to investigate claims that suspect Polish sofas were being brought into the country and then sold to a variety of furniture stores and consumers after being ‘warehoused’ at the camp near Crays Hill. Trading Standards are now on the trail of the importer.
Office furniture firm makes acquisition
Senator International, a major office furniture manufacturer, has acquired High Wycombe firm Teal Furniture, a significant contract supplier to the National Health Service (NHS), for an undisclosed sum.
Property trade body launches website to highlight impact of empty property rates
The British Property Federation has launched a website, www.emptyrates.com, to further its campaign for the Government to reinstate the rates relief on empty commercial properties. Retailers believe the tax is unfair as it is hard to dispose of or let empty properties in the current economic climate.
Headlam strengthens its grip on the independent retail sector
Flooring | distribution | Wholesale group Headlam has grown its market share with independent flooring retailers. The company, which runs a host of regional and national flooring distributors, outperformed a flooring market widely thought to be running at double digit figures below last year’s levels, as it reported sales just 2.5% lower than ’07 on a like for like basis in the year to 31st December.
IN BRIEF | 1ST APRIL
Furniture warranty firm increases new policy numbers
Homeserve, one of the UK’s leading furniture warranty providers, says new policy sales in the fourth quarter will rise to 1.75m, compared to 1.68m in the same period a year ago. In a pre-close statement the company also said its retention rate had fallen slightly, from 85% to 83%.
Retailer to expand into furniture following store acquisition
An Oswestry retailer is looking to add furniture to its portfolio after buying a neighbouring store. Catalogue Surplus Centre, best known for its clothing, now has more room to stock home products after it bought fashion shop Frank Lloyd.
CBI backs Government rate rise deferral
The Chancellor’s decision to spread the widely criticised 5% business rates rise over two years has been broadly welcomed by trade bodies. CBI director general Richard Lambert said it was a step in the right direction that would help businesses improve their cash flow.
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