British fashion chain Habitat to be sold in pieces

Habitat logo 750 jobs at British furniture chain Habitat are at risk, as the bankrupt company will be split up and (some of) the pieces sold separately. Competitor Home Retail Group will take over a small part of Habitat UK, and for the continental activities too, an interested buyer would have been found.

 

Private equity fail

Even though Habitat had been generating losses for years, private equity firm Hilco paid 15 million euro to the Kamprad-family (best known for Ikea-founder Ingvar Kamprad) to take over the chain. The private equity firm had hoped to make Habitat a healthy company again, but failed in the process and is now forced to sell the chain after starting the procedure to go in administration. 

 

Home Retail Group picks best, leaves rest

Home Retail Group, owner of the number two in British DIY Homebase, will pay Hilco 24.5 million pounds (27.5 million euro) for the best British bits and pieces: the intellectual property, the exclusive rights to use the name Habitat, the web shop and three London flagship stores. For 150 of the 900 employees, the future seems secured. For the 30 other British stores, the owners appear to be hoping for buyers for the property at best, not leaving much hope for the 750 other employees. 

 

European stores are safe(r)

As Habitat's continental stores had been generating profits, countrary to their British counterparts, their future looks a lot better. Hilco confirms ongoing negotiations with a company - rumoured to be French Conforama - to buy the 27 French, 6 Spanish, 5 German and 3 Belgo-Luxemburgian stores. 

Habitat logo 750 jobs at British furniture chain Habitat are at risk, as the bankrupt company will be split up and (some of) the pieces sold separately. Competitor Home Retail Group will take over a small part of Habitat UK, and for the continental activities too, an interested buyer would have been found.

 

Private equity fail

Even though Habitat had been generating losses for years, private equity firm Hilco paid 15 million euro to the Kamprad-family (best known for Ikea-founder Ingvar Kamprad) to take over the chain. The private equity firm had hoped to make Habitat a healthy company again, but failed in the process and is now forced to sell the chain after starting the procedure to go in administration. 

 

Home Retail Group picks best, leaves rest

Home Retail Group, owner of the number two in British DIY Homebase, will pay Hilco 24.5 million pounds (27.5 million euro) for the best British bits and pieces: the intellectual property, the exclusive rights to use the name Habitat, the web shop and three London flagship stores. For 150 of the 900 employees, the future seems secured. For the 30 other British stores, the owners appear to be hoping for buyers for the property at best, not leaving much hope for the 750 other employees. 

 

European stores are safe(r)

As Habitat's continental stores had been generating profits, countrary to their British counterparts, their future looks a lot better. Hilco confirms ongoing negotiations with a company - rumoured to be French Conforama - to buy the 27 French, 6 Spanish, 5 German and 3 Belgo-Luxemburgian stores. 

Questions or comments? Please feel free to contact the editors


Jesper Brodin new CEO for Ikea Group

24/05/2017

Ikea’s current CEO, Peter Agnefjäll, will step down on 1 September after a five-year stint and at that time, Jesper Brodin will take charge of the group.

Another decent turnover growth for Beter Bed

12/05/2017

Dutch Beter Bed Holding has raised its first quarter turnover by 7.6 %, partially thanks to its acquisition of Sängjätten. However, excluding that, turnover would still have grown 5 %.

New distribution center is start of Casa's 20.20 strategy

27/04/2017

A new distribution center for Belgian store chain Casa is also the launch of its new strategy Casa 20.20, designed to help the chain grow once more.

Jysk opens its first Belgian stores

04/04/2017

Jysk, considered to be Ikea's Danish counterpart, will open its first Belgian stores in Schoten and Genk tomorrow. Lanaken will follow with its own store in May and Olen in September.

Ikea presents the living room of the future

04/04/2017

Ikea will present the living room of the future this week. During the Milan designweek, Salone del Mobile, the furniture store chain will open the Ikea Festival Let's Make Room for Life

London’s financial world loves Action

30/03/2017

According to British business bank Morgan Stanley, Benelux discounter Action is worth about 10 billion euro, a “conservative calculation”. Majority shareholder 3i’s share immediately skyrocketed.

Back to top