Furniture

Belgian kitchen chain èggo continues its expansion: the Netherlands has become the fourth country in which the company is active, while in Belgium plans are revealed for a fiftieth store.

The Dutch Blokker chain is having a bad spell, as it had to report a 21 % turnover drop in its Belgian stores. Moreover, the board of directors is being reduced from eight to five members. 

German investment group Rocket Internet has brought yet another one of its ventures to the stock exchange. Following Zalando, HelloFresh and Delivery Hero, it was online furniture store Home24's turn to raise investments for growth acceleration this way.

Blokker Holding has reported a 344 million euro loss for the past fiscal year, largely because of high one-time restructuring costs, according to the group. The implementation of its new strategy is on schedule.

Dutch mattresses group Beter Bed Holding saw its first quarter turnover drop 4 % compared to last year. Turnover went down in Germany, where a poison scandal forced results down by 12 %, but Switzerland and Spain performed even worse.

Carpetright, caught in a downward spiral in the past year, will shut down a fifth of its stores in Great Britain in order to remain afloat. 300 people will subsequently lose their job.

In the past six years, Ikea unlawfully deducted about one billion euro from its taxes according to the European Commission’s preliminary findings. The EC launched an investigation into the Swedish company’s deal with the Dutch treasury.