British fashion chain Habitat to be sold in pieces | RetailDetail

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


Casa v2.0 expands geographically and to home delivery

06/06/2018

Belgian decoration chain Casa has launched a new web shop, that expands from mere click & collect to home delivery. From now on, the Dutch as well can order their furniture for home and garden online.

Blokker Holding has record loss, but sees an upturn

29/05/2018

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.

Ikea plans to cut 150 jobs, including in Belgium and the Netherlands

04/05/2018

Ikea will be cutting 150 jobs, some of them in the Belgian and Dutch branches as well. The plan is part of a major reorganisation effort to help prepare the furniture giant for the growing competition of large e-commerce players.

Beter Bed suffers from poor German results

02/05/2018

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.

Jysk targets 100 Belgian stores

23/04/2018

Danish Jysk will open another eleven stores in Belgium in 2018, bringing its total to seventeen. The Danish counterpart to Ikea aims to have about 100 stores in Belgium at some point.

Carpetright shuts down 20 % of its UK stores

13/04/2018

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.