West Yorkshire retail group Flair Furniture has snapped up the assets of a Dorchester e-commerce business that collapsed after facing challenges in post-pandemic trading.
Heckmondwike-based Flair Furniture – owner of Bed Kingdom – has acquired stock and intellectual property from Cuckooland, valued at over £800,000. Cuckooland, which specialised in children’s bedroom furniture, upholstery, cabinets, and outdoor furniture, saw sales double during the Covid pandemic.
However, after the lockdowns came to an end Cuckooland faced challenges including a drop in demand, a cyber incident and a content management system glitch which affected its website. The company posted reported losses of more than £690,000 for the 2022/23 financial year, and was placed into liquidation under the supervision of restructuring firm ReSolve Advisory, with creditors owed around £1.75m. The insolvency also wiped out the interests of prior shareholders.
Ashley Hainsworth, founder and director of Flair Furniture and Bed Kingdom, said: “We’ve had a promising few years in terms of business growth, and this asset acquisition paves the way for us to expand laterally. It’s a great opportunity for us to branch out and work alongside new and existing suppliers.
“We already have a strong digital presence for children’s beds through one of our biggest brands, Bed Kingdom, so acquiring Cuckooland’s website and assets made sense. We’re pleased to be in a position to nurture and expand this exceptional brand.”
Bed Kingdom was founded in 2011 and specialises in children’s beds as part of a broad bedroom furniture offer. The online retailer’s founder began selling mattresses online with an investment of just £400 while studying at Huddersfield University and now employs 28 people. Last year, the company made the Sunday Times Top 100 list after achieving a 76.06% average annual sales growth over the past three years.
The e-commerce group opened a new 70,000 sq ft facility last year to act as as a stock and distribution site for its brands.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
