Deal of the Month: Retailer makes first post-MBO investment

THE acquisition by renowned Birmingham retailer Lee Longlands of four stores has been named as April’s Deal of the Month by TheBusinessDesk.com.

The acquisition of the stores, from the administrators of Furniture Barn Group, is the first deal by the retailer since its management buyout last November.

Darren Campo, financial director for Lee Longlands, described the deal as a “major investment” that would provide the retailer the opportunity to meet its growth plans.

It is a big investment for the group, which has added stores in Kidderminster, Grantham, Sheffield and Doncaster to its existing outlets in Birmingham, Derby, Cheltenham, Leamington Spa and Abingdon.

The deal, for an undisclosed sum, provided certainty for the 26 staff employed at the four stores while the company said it would be creating a further 10 roles.

Alex Turner, editor of TheBusinessDesk.com, said: “Lee Longlands is a well-known and well-loved Birmingham company and it is great to see it expand. The opportunistic deal came about at just the right time as it plots its growth on the back of its recent MBO.”

Furniture Barn had eight stores across the Midlands and North when it appointed FRP partners Nigel Hamilton Smith and Geoff Rowley as joint administrators last December.

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