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Upholstery chain ScS sees 25% sales fall but insists it still remains ‘within a whisker’ of forecasts

5th February | upholstery | Half-year sales at sofa retailer ScS Upholstery have fallen by 25% to £99.5m. The chain, based in the northeast but with stores nationwide, was rescued by private equity firm Sun European last year after going into administration.

Speaking to the Mirror newspaper, finance director Ron Turnbull said that sales targets set last June had been ‘ripped up’ as a result of the credit crunch but that ‘the gratifying thing is we’re within a whisker of our revised forecasts.’

He added that no store closures were planned.

It is thought that bosses at the firm have also been upset that it has been incorrectly reported as having collapsed by a number of newspapers in the wake of the high profile administrations of other chains including MFI and Land of Leather.

At least one national newspaper is known to have printed a correction after originally stating that ScS had failed in a story regarding a rival firm.