Bedroom furniture retailer Sharps up for sale for £80m

Tue, 04 Apr 2017 | BUSINESS SALE

Bedroom furniture retailer Sharps, rescued out of administration six years ago, has been put up for sale for £80 million, it has been reported.

The Telegraph said Sharps’ owner, Sun European Partners, has appointed Spayne Lindsay to help manage the sale of the business.

Sun bought Sharps out of administration in 2011 after putting its other brands Dolphin Bathrooms and Moben Kitchens into insolvency. 600 jobs were saved but 550 employees were made redundant.

The company has turned Sharps around and it is forecast to post sales of £100 million this year. The business has 80 showrooms across the UK and has benefitted from increased demand for fitted wardrobes and storage units for smaller flats and houses.

Sun is also said to be exploring a £400 million sale or float of Dreams after rescuing that retailer four years ago.

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