Furniture distributor to relaunch after suffering in the downturn

15th October 2009 | distribution | Furniture and giftware wholesaler Jig is to relaunch later this month after profits tumbled in the run up to the recession. The firm has closed four of its five warehouses, but will relaunch its Acton depot in London on 25th October.

The company's pricing terms and trading policies say it will no longer accept cheques or supply internet only retailers or home based interior designers. The firm said, along with its contemporaries, that  it had suffered a sudden and significant drop in sales that had prompted its decision to cut costs and close four of its cash and carry operations.

It made a pre-tax loss of £0.5m in 2008, with its previous five year low being a profit of £0.8m in 2005. The firm made a £1m+ pre-tax profit in each of 2007, 2005 and 2004.