Bed specialist expands with e-commerce retailer asset acquisition
Flair Furniture, a furniture retail group which owns Bed Kingdom, has acquired assets of Cuckooland, an e-commerce furniture retailer which faced challenges in the post-Covid trading environment.
Heckmondwike-based Flair has acquired stock and intellectual property from Dorchester-based Cuckooland, valued at over £800,000. Assets include various components crucial to Cuckooland’s operations.
Despite experiencing a doubling of sales during the pandemic, Cuckooland then ran into trouble due to decreased demand and unforeseen incidents, such as a cyber incident and a content management system glitch affecting its website.
Cuckooland, which specialises in children’s bedroom furniture, upholstery, cabinets, and outdoor furniture, reported a net loss exceeding £690,000 for the fiscal year 2022/23.
Earlier this year, the company was placed into liquidation under the supervision of restructuring firm ReSolve Advisory, with creditors owed approximately £1.75m. The insolvency also wipes out the interests of prior shareholders.
Ashley Hainsworth, founder and director of Flair Furniture and Bed Kingdom, said: “We’ve had a promising few years in terms of business growth, and this asset acquisition paves the way for us to expand laterally.
“It’s a great opportunity for us to branch out and work alongside new and existing suppliers.
“We already have a strong digital presence for children’s beds through one of our biggest brands, Bed Kingdom, so acquiring Cuckooland’s website and assets made sense. We’re pleased to be in a position to nurture and expand this exceptional brand.”
Bed Kingdom was founded in 2011 and specialises in children’s beds as part of a broad bedroom furniture offer.
The online retailer’s founder began selling mattresses online with an investment of just £400 while studying at Huddersfield University and now employs 28 people.
To bolster its rapid growth, the e-commerce group opened a new 70,000 sq ft facility last year to house stock and become the main distribution site for its brands.
