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Sales up 20% at Sofa.com as it searches for new investors

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Online retailer sofa.com has posted a 20 per cent sales rise for the 12 months to 28 February 2014 as it prepared a potential sale.

The retailer, founded eight years ago by entrepreneurs Rohan Blacker and Pat Reeves, has hired investment bank Altium Capital to advise on a possible sale to a private equity firm.

Adjusted EBITDA rose 48 per cent to £5.3m from £3.6m in 2013.

Gareth Williams, sofa.com’s CEO said the sofa industry would have to continue to evolve to meet customer expectations of online shopping.

He said: “The strength of our brand and scalable and adaptable business model ensure that we are well positioned for future profitable growth.”

The online retailer, which has a showroom in Chelsea, said it was well placed to benefit as an omni-channel retailer as consumers’ retail habits continue to evolve.

Published on Tuesday 22 April by Editorial Assistant
Tags: sofa.com

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