Furniture

Even Ikea is having a hard time in the declining British market: in Coventry, in the centre of England, Ikea is forced to permanently close its store. 352 employees lose their jobs.

The Danish Lars Larsen Group, the parent company of furniture chain Jysk, once again achieved record figures for the 2018/2019 financial year. Operating profit was 3.9% higher than a year ago.

Decovry is taking over its German competitor Monoqi. Just like Decovry, this Berlin platform is a bargain site for design and home products. The takeover should double the Belgian provider’s turnover.

Credit rating agency Moody's is very concerned because Hema has postponed a repayment to parent company AMEH XXVI. The Dutch chain's total debt, some 750 million euros, and the dismissal of CFO Ivo Vliegen, are also a cause for concern for Moody’s.

Next month, Dutch retailer Blokker wants to evaluate its Belgian stores. The chain is haemorrhaging money and that may well cause another series of store closings, relatively shortly after the previous decommissioning round in 2017.

Dutch bed chain Beter Bed has closed new financing agreements with its banks, after the company was able to significantly reduce its debts. One of the major factors in the debt reduction was the divestment of its German subsidiary, Matratzen Concord.

Belgian fashion group FNG has completed the acquisition of Scandinavian e-commerce player Ellos. For the Belgian company, the acquisition predominantly means access to a new market: home decoration.