Essential reading for retailers and suppliers in the home improvement market

SCS pulls out of talks to buy

Published: 1 February 2019 - Fiona Garcia
It is thought that Sports Direct
It is thought that Sports Direct's Mike Ashley has already snapped up

Sofa Carpet Specialist (SCS) has issued a statement this morning confirming it is no longer in the running to buy Ltd, as reports suggest that Mike Ashley has already agreed a deal to purchase the business.

The furniture and flooring retailer published the statement today in order to provide an update on recent press speculation and said “SCS Group plc is no longer in discussions regarding a potential acquisition of the business and assets of Limited.”

It gave no reason as to why it had conversations had been terminated but it has been reported that Sports Direct owner Mike Ashley, who recently purchased House of Fraser, has snapped up the business at an attractive price.

If true, the deal is the latest in a long list of retail acquisitions for Mr Ashley, who bought department store chain House of Fraser out of administration last summer for £90million, and more recently took on Evans Cycles for an undisclosed sum. He also has a share of nearly 30% in Debenhams.

The move could also see Mr Ashley increase the number of concessions with House of Fraser outlets. The furniture business was put on the market last month, potentially impacted by House of Fraser store closures, which led to a number of its own branches shut down.

Last October SCS announced plans to close all of the 27 outlets it operates within House of Fraser stores, stating that the partnership was “no longer beneficial” and reporting a 52.5% decline in concession sales.





(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Printable View E-mail Bookmark

What do you think?

How do you feel about the appointment of Boris Johnson as prime minister?

Latest reader comments

re: DIY inventor gets £100,000 investment for Wellitop

You're being optimistic expecting a response to a 9 year old story!...

re: DIY inventor gets £100,000 investment for Wellitop

Hi I live in Australia and am finding it really difficult to find somewhere on the internet to purchase wellitops. i manged to find one ...

re: Further Homebase closures ahead

Once a customer
good investigating diy week . There looks like will be more closures so will you keep us updated . Just seen Horsham closing so more than ...

re: Quick and easy wood treatment oil from Frogsuit

Hi, please confirm if Frogsuit can be used on all external wood doors and sheds.RegardsBeverley...

re: Quick and easy wood treatment oil from Frogsuit

Chris - Frogsuit Ltd
Hi Arthur, thank you for your query. Depending on the product and the type of wood you may need to prepare the items prior to application. ...