Feather & Black acquired by Hilding Anders
Under the terms of the sale, Hilding Anders has acquired 17 out of a total of 20 stores. The move means that 104 jobs have been saved.
Just three stores and five concessions within Multiyork stores will be closed. The Feather & Black brand will be retained and continue to have a presence on the UK high street.
Operating in Europe, Russia and Asia, Feather & Black was founded in 2005 and has 25 retail stores nationwide, including Multiyork concessions. It also has a head office and warehouse in Chichester.
Allan Graham, joint administrator, Duff & Phelps, said: “The joint administrators continued to trade Feather & Black in administration with a view to finding a purchaser for the business as a going concern, so 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.”
Hilding Anders has 26 premium brands in 21 core markets with sales in over 60 countries worldwide. HA Group currently has 25 production facilities in 19 countries and over 9,000 employees producing a full range of bedding products. In Russia and China, Hilding Anders Group has 1,160 directly operated and franchised branded retail stores. The company had sales of €872 million in 2016.
Pepyn Dinandt, chairman and group chief executive of Hilding Anders, said: “I am very excited by this opportunity to re-enter the UK market with Feather & Black. Feather & Black has a strong market position, excellent customer loyalty and a deep heritage within the UK market.
“We will build on Feather & Black’s solid platform and grow the business across both stores and ecommerce. We will continue with Feather & Black’s current customer and product positioning whilst also looking at further ways to improve our productivity and profitability.”
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