Brock to quit Homestyle

Furniture retailer Homestyle has announced the departure of chairman David Brock and the appointment of a new chief executive as it delivered solid results for the 52 weeks to April 30.

Brock is to stand down following the completion of the£100 million refinancing deal the retailer has made with South African furniture giant Steinhoff. The chief executive role will be filled by Steinhoff executive Ian Topping.

Homestyle senior non-executive director Donald MacPherson will act as interim chairman when Brock leaves, until a new non-executive chairman is hired.

The retailer said turnover for the period was up 20 per cent to£543 million. Loss on ordinary activities, before taxation, was reduced from£107 million last year to£38.8 million this year. The retailer said its beds division, which includes Bensons, Sleepmasters and Bed Shed, performed well. The furniture division, which trades under the Harveys brand, has stabilised.