Tuesday, April 23, 2024 | Business Sale
West Yorkshire-based retail group Flair Furniture has acquired the assets of e-commerce company Cookoland from liquidators. Flair Furniture, from which he acquired shares and intellectual property worth over £800,000.
Cuckooland was based in Dorchester and specialized in children's room furniture, cabinetry, upholstery and outdoor furniture. The company saw its sales double during the coronavirus pandemic, but then faced many problems.
After the lockdown, the company experienced a drop in demand, as well as cyber incidents and content management system glitches that affected its website. It posted a loss of more than £690,000 in the 2022-23 financial year.
The company has since entered liquidation, with restructuring firm Resolve Advisory appointed to oversee the process. At the time, the company owed creditors around £1.75m.
The company's shares and intellectual property have now been acquired by Flair Furniture, owner of Bed Kingdom, an e-commerce children's bed specialist founded in 2011. Flair Furniture has experienced significant growth in recent years, opening a new 70,000 square foot facility last year. Serves as an inventory and distribution hub for private label brands.
Ashley Hainsworth, Founder and Director of Flare Furniture and Bed Kingdom, commented on the acquisition of Cookeland's assets: . 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.”
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