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Harveys & Bensons For Beds Put Up For Sale

Bensons for Beds Comfort Station.jpg

Alteri Investors, the group that bought Bensons For Beds and Harveys from Steinhoff in November 2019, has appointed BDO to help sell the two furniture chains.

Sky News reported that Alteri, which focuses on European retail sector investments, has planned an 'accelerated auction process', with funded takeover proposals to be received within two weeks.

The chains operate from a network of 269 stores and employ around 2,700 staff.

It is understood that Alteri could be interested in retaining the Bensons For Beds business which could leave Harveys at risk of collapse if a buyer is not found. 

At the time of the purchase, Alteri chief executive Gavin George said: “This is exactly the type of investment opportunity our second fund was launched to find – trusted retail brands with strong management and the potential for profitable growth,” 

“We are confident that our operational capabilities, alongside the injection of fresh capital, can help to build a market-leading, vertically integrated business with a strong omnichannel presence.”

Source : Insight DIY Team

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16 March 2020

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