{"id":69990,"date":"2023-10-24T10:08:01","date_gmt":"2023-10-24T10:08:01","guid":{"rendered":"https:\/\/geels.net\/?p=69990"},"modified":"2023-10-24T10:08:01","modified_gmt":"2023-10-24T10:08:01","slug":"huge-sofa-chain-with-100-stores-sold-in-100m-deal-the-sun","status":"publish","type":"post","link":"https:\/\/geels.net\/beauty\/huge-sofa-chain-with-100-stores-sold-in-100m-deal-the-sun\/","title":{"rendered":"Huge sofa chain with 100 stores SOLD in \u00a3100m deal | The Sun"},"content":{"rendered":"<p>A HUGE UK sofa chain is set to be taken over in a \u00a3100m deal.<\/p>\n<p>An Italian furniture retailer is set to take over the group that has more than 100 stores in the UK.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2020\/05\/NINTCHDBPICT000527201865.jpg\"><\/p>\n<p>ScS is set to be taken over by Italian furniture retailer Poltronesofa.<\/p>\n<p>The company has around 300 stores across Europe, but this is the first time it will enter the UK market.<\/p>\n<p>This Italian company has existing operations in Italy, where it has 167 stores, in France, Belgium, Switzerland, Cyprus and Malta.<\/p>\n<p>ScS has 100 outlets in the UK and a website offering, as well as the recently bought Snug brand.<\/p>\n<h2>Read more on Money <\/h2>\n<p><source media=\"(-webkit-min-device-pixel-ratio: 1.5)\" data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/newspress-collage-24262027-1696421225586.jpg\"><source data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/newspress-collage-24262027-1696421225586.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/newspress-collage-24262027-1696421225586.jpg\"><\/picture><span>TOP TIP <\/span><\/p>\n<h3>Save \u00a3\u00a3\u00a3 by joining The Sun&#x27;s new Money Saving WhatsApp channel in 3 easy steps<\/h3>\n<p><source media=\"(-webkit-min-device-pixel-ratio: 1.5)\" data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/05\/worried-woman-calling-boiler-breakdown-764172851-1.jpg\"><source data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/05\/worried-woman-calling-boiler-breakdown-764172851-1.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/05\/worried-woman-calling-boiler-breakdown-764172851-1.jpg\"><\/picture><span>CASH BOOST <\/span><\/p>\n<h3>Thousands can get \u00a37.5k grant for big home upgrade from TODAY \u2013 how to claim<\/h3>\n<p>The business was founded in Sunderland in 1894 and is one of the UK&#x27;s leading furniture and flooring specialists employing over 1,800 people.<\/p>\n<p>Under the deal, Italy\u2019s Poltronesofa will pay 280p a share, including a 10p dividend, valuing ScS at \u00a399.4 million and marking a 66% premium on Monday\u2019s closing price.<\/p>\n<p>Alan Smith, non-executive chair of ScS, said: \u201cPoltronesofa, based in Italy, is a pan-European sofa retailer that has been successfully pursuing international expansion and ScS, with UK operations, is the next juncture of that strategy.<\/p>\n<p>\u201cThe ScS board believes Poltronesofa will bring significant benefits to ScS through its broad industry expertise in addition to providing the necessary capital that would accelerate our current strategy, albeit in a private rather than public sphere.\u201d<\/p>\n<h2>Most read in Money<\/h2>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/09\/close-up-ten-twenty-pound-818778910.jpg\"><\/picture><span>GOING UP <\/span><\/p>\n<h3>Pay rise for nearly half a million workers from TODAY &#8211; will you get one?<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/08\/people-walking-bohemian-rhapsody-themed-835657578.jpg\"><\/picture><span>FESTIVE JOY <\/span><\/p>\n<h3>Huge discount chain with over 800 branches to close all stores on Boxing Day<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/RR-COMP-gadget-v1.jpg\"><\/picture><span>BILL SAVE <\/span><\/p>\n<h3>Cheap gadget you&#8217;d never think of can slash energy bills by \u00a3300 a year<\/h3>\n<p><\/span><span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/crop-20878315.jpg\"><\/picture><span>CHOC LOT <\/span><\/p>\n<h3>Cheapest shops to buy Xmas chocolates including Quality Street &#038; Celebrations<\/h3>\n<p><\/span><\/p>\n<p>Poltronesofa said the deal fits in with its aims to continue growing across Europe.<\/p>\n<p>Chief executive Renzo Ricci said: \u201cAs the next step of Poltronesofa\u2019s pan-European expansion, the acquisition represents the best opportunity for Poltronesofa to enter the United Kingdom market of upholstery products.\u201d<\/p>\n<p>He added it will help ScS \u201crealise its full growth potential\u201d.<\/p>\n<p>It is a tough time for retailers at the moment as the cost of living has shoppers thinking twice before spending their hard-earned money.<\/p>\n<p>In August popular discounter Wilko fell into administration after failing to find a buyer for the whole business.<\/p>\n<p>Rival retailer Poundland stepped in and bought up 71 Wilko locations and has already started to open them as Poundland stores.<\/p>\n<p>Poundland shops have opened up in\u00a0old Wilko locations\u00a0including Derbyshire, Bolton, Bicester, and Sheffield.<\/p>\n<p>B&amp;M also took over 51 of the former Wilko stores in a deal worth \u00a313million.<\/p>\n<p>However it is not all bad news for shoppers, some retailers are thriving.<\/p>\n<h2>Read More on The Sun<\/h2>\n<p><source media=\"(-webkit-min-device-pixel-ratio: 1.5)\" data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/employee-trains-orca-pool-water-854529013.jpg\"><source data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/employee-trains-orca-pool-water-854529013.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/employee-trains-orca-pool-water-854529013.jpg\"><\/picture><span>TRAGIC END <\/span><\/p>\n<h3>Mystery as orca Moana dies suddenly in captivity at French theme park<\/h3>\n<p><source media=\"(-webkit-min-device-pixel-ratio: 1.5)\" data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2022\/12\/newspress-collage-20708407-1670613468586.jpg\"><source data-srcset=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2022\/12\/newspress-collage-20708407-1670613468586.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2022\/12\/newspress-collage-20708407-1670613468586.jpg\"><\/picture><span>NOT THE ENDER <\/span><\/p>\n<h3>EastEnders legend drops big hint she\u2019s signed up for I\u2019m A Celeb jungle <\/h3>\n<p>TK Maxx is also reportedly looking for\u00a0new locations as part of expansion plans.<\/p>\n<p>And Poundstretcher recently revealed plans to bring\u00a050 new shops to the high street before the end of the year.<\/p>\n<p>Source: <a href=\"https:\/\/www.thesun.co.uk\/money\/24502289\/huge-sofa-chain-stores-sold-in-deal\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A HUGE UK sofa chain is set to be taken over in a \u00a3100m deal. An Italian furniture retailer is<\/p>\n","protected":false},"author":2,"featured_media":69989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Entertainment News. Celebrity News &amp; Gossip - geels<\/title>\n<meta name=\"description\" content=\"Get the latest celebrity news and hot celeb gossip with exclusive stories and pictures from Us. Celebrity gossip and the latest showbiz news. 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