Flair Furniture, the furniture retail group that owns Bed Kingdom, has acquired the assets of e-commerce furniture retailer Cuckooland, which has faced challenges in the post-COVID-19 trading environment.
Heckmondwijk-based Flare has acquired shares and intellectual property worth more than £800,000 from Dorchester-based Cuckooland. Assets include various components essential to Cuckooland's operations.
Despite doubling its sales during the pandemic, Cuckooland faced challenges due to reduced demand and unforeseen events such as a cyber incident and a glitch in its content management system that affected its website. did.
Cuckooland, which specializes in children's furniture, upholstery, cabinetry and outdoor furniture, reported a net loss of more than £690,000 for the 2022/23 financial year.
The company went into liquidation earlier this year, overseen by restructuring firm Resolve Advisory, with creditors owed around £1.75 million. Bankruptcy also eliminates the interests of previous shareholders.
Ashley Hainsworth, founder and director of Flair Furniture and Bed Kingdom, said:
“This is a great opportunity for us to expand our business by working with new and existing suppliers.
“We have a strong digital presence in children's beds through one of our largest brands, Bed Kingdom, so acquiring the Cuckooland website and assets made sense. We are excited to be in a position to grow and expand this great brand.”
Bed Kingdom was founded in 2011 and specializes in children's beds as part of our wide range of bedroom furniture.
The online retailer's founder started selling mattresses online with just a £400 investment while studying at the University of Huddersfield and now employs 28 people.
To strengthen its rapid growth, the e-commerce group last year opened a new 70,000 square foot facility to store inventory and serve as the brand's primary distribution site.
