Joynson Holland/Highly Sprung co-owners to the fore at Sofa Workshop
5th June 2009 | retail | The sole shareholders of furniture businesses Highly Sprung and Joynson Holland appear to be taking greater control over the strategic direction of upholstery chain Sofa Workshop.
The retailer was bought out of administration earlier this year by a new company called Erewash Upholstery, with the deal spearheaded by Sofa Workshop founder Andrew Cussins.
Ian MacGuffog, who co-owns Joynson Holland and Highly Sprung, both furniture suppliers, was part of the original Sofa Workshop takeover and has been managing director ever since.
His Joynson Holland and Highly Sprung business partner, Neil Brown, does not appear to have been a part of the original deal to bring Sofa Workshop out of administration, but has since joined the board of Erewash Upholstery, according to documents filed at Companies House.
Besides Cussins, Brown and MacGuffog, the only other director of Erewash Upholstery is Aidan Travers. Two other Travers family members left in the immediate aftermath of the deal.
Trade paper Retail Week is reporting this morning that Andrew Cussins is stepping back from the day-to-day running of the business, and also speculates that there may have been a disagreement over strategy - a suggestion MacGuffog did not comment on.