The bulk of furniture retailer Feather & Black has been bought out of administration.
Hilding Anders International (HA Group) has acquired 17 of Feather & Black’s 20 stores, saving 104 out of 123 jobs at the retailer. The Feather & Black brand will be retained
Beds and mattress company HA Group is described as “the clear market leader in Europe and Russia” with “retail activities in a limited number of geographies to support the growth of its premium product portfolio”.
As well as producing in 19 countries, HA Group, which employs approximately 9,000 people, has 1,160 directly operated and franchised stores in Russia and China. It generated sales of €872m in 2016.
HA Group chairman and chief executive Pepyn Dinandt said: “I am very excited by this opportunity to re-enter the UK market with F&B. F&B has a strong market position, excellent customer loyalty and a deep heritage within the UK market.
“We will build on F&B’s solid platform and grow the business across both stores and ecommerce. We will continue with F&B’s current customer and product positioning while also looking at further ways to improve our productivity and profitability.”
Feather & Black joint administrator Allan Graham of Duff & Phelps said: “We are delighted that we have been able to secure a future for the brand, the business and over 100 employees who work for the retailer.
“The majority of the stores have been sold to one of the best known brands in the bedroom furniture sector, securing the future for Feather & Black and a large number of its valued employees. This is a tremendous result for the business.”
Feather & Black plunged into administration at the end of last month, a week after stablemate Multiyork. Both were part of Wade Furniture Group.