Smallbone owner: ‘We can be biggest furniture brand in the world’

23rd March | kitchens |  The new owner of top end kitchen group Smallbone says it has the potential to be the biggest furniture brand on the planet. Serial investor Leo Caplan bought the distressed group last week following a pre-pack administration.

The group, which had earlier this year announced a £5.9m restructuring package designed to safeguard its future, was forced to put itself up for sale and suspend its shares from the Stock Exchange when it encountered financial problems.

Caplan said: ‘We have the potential to become the leading specialist furniture brand in the world, creating bespoke furniture suitable for every area of today’s lifestyle, extending our reach way beyond the kitchen.’

The pre-pack saves 400 jobs at the company, which lists Smallbone of Devizes and Mark Wilkinson Furniture as its two leading brands. It is thought that an American subsidiary was the source of many of its financial problems and that forward orders in its UK businesses were relatively strong. Customer deposits have also been protected following the deal.