Wed, 05 Dec 2012 | BUSINESS SALE
Furniture123 is up for sale, the company's owner Julian Field has confirmed.
Mr Field has appointed corporate finance experts from Frazer Hall to manage the sale of the business, which was founded in 1999.
Speaking to the Furnishing Report, Mr Field explained that the three principal private shareholders in the business, which includes himself, had decided that selling was the right strategic decision due to the benefits that can come from being allied with a larger business.
He added that smaller companies are finding it increasingly difficult to continue to battle it out in today's competitive environment, noting: "The company’s shareholders have decided to sell the business and have engaged the services of a corporate finance firm to guide us through the process.
"We are conscious of the uncertainty this represents for our staff and suppliers and are hopeful that we will be able to make an announcement before the end of the year."
Stephen Frazer, director of the appointed corporate finance group, added: "There has been a lot of interest in the company given its well-established brand and knowledge of the online retail sector. Discussions with a number of interested parties are ongoing."
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