Wed, 26 Mar 2025 | BUSINESS SALE
National soft furnishings retailer Julian Charles has been bought out of administration by Great Bedding Co rescuing 230 of 251 jobs.
Julian Charles appointed Marco Piacquadio and Alan Colemanâ, directors, FTS Recovery, as joint administrators. On appointment, they were able to immediately complete the sale of its business and assets following an accelerated marketing process.
Piacquadio, Director FTS Recovery, said: “As is typical when parachuted in, we were focused on seeking to rescue as many elements of the business as is possible, always front of mind being the position of the employees, consumers and other creditors and stakeholders. This was a relatively complex transaction with significant scale and the ability to move quickly was key."
Manchester-headquartered Julian Charles is a national multi-channel retailer, offering a wide range of quality bedding, ready-made curtains, cushions, throws and home décor accessories. Founded in Lancashire in 1947, the company has 70 outlets across the UK and operates 41 stand-alone stores, plus concessions such as Boundary Mill and in leading garden centres. It employed over 250 staff.
It was acquired by London investment firm SKG Capital in 2020, which led a turnaround drive to return the business to growth and profit.
In 2022 it announced plans to open up to 30 stores and concessions across the country, taking the chain up to more than 100 sites.
In recent years the company has suffered a number of economic headwinds which have resulted in cash-flow difficulties and left it unable to meet all its current liabilities.
Aside from a significant drop in turnover, the company is mindful of the impact of the increasing tax burden, particularly those announced in last October’s budget, having a direct impact on its bottom line as a result of increasing employment costs. According to Companies House the business owed £3.5 million when it entered administration.
Alan Coleman, Director FTS Recovery, said: “A devastating combination of rising costs and declining consumer confidence have hit the UK’s retail sector hard in recent years, Julian Charles included."
Find out more about insolvency figures in the UK
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