// Harveys and Bensons for Beds up for sale
// The move puts 2700 jobs at risk
// Parent company Alteri Investors drafted in accountancy firm BDO to handle an auction
The owner of Harveys and Bensons for Beds has reportedly put the furniture chains up for sale, putting the jobs of 2700 people at risk.
Alteri Investors drafted in accountancy firm BDO to handle an auction, with funded takeover proposals required by the end of next week, Sky News reported.
It is thought that Alteri was interested in retaining ownership of Bensons for Beds itself, which could mean the Harveys chain would have to go through an administration process.
READ MORE:
- Bensons for Beds & Harveys are no longer owned by Steinhoff
- Retail Gazette Loves: Harveys & Bensons for Bed’s campaign for mental health
The timing of the sale process comes as a surprise as both chains only had a change of hands in November, when former parent company Blue Group was sold off by Steinhoff to Alteri Investors for an undisclosed sum.
The sale also comes as the coronavirus crisis continues to have a domino effect on the retail industry.
Bensons for Beds is the largest bed retailer in the UK by store number, and Harveys the largest furniture specialist in the UK by store number.
In total, Harveys and Bensons for Beds trade from 269 stores across the UK.
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Very surprising.
Not.
Hugely disappointing for staff. Question whether Alteri carried out proper due diligence prior to the acquisition of the brands.
There should be a full investigation in to this company and look at all the wrong doings bonuses pay outs etc
Feel sorry for the staff who will be out of work, but not the company, good riddance
Agreed, some strange things happened over the years, I feel for the staff but the upper management can rot for me
When the new company took over all the staff had to sign new contracts in which they will lose out on redundancy. It was either take it or leave it. Pretty shit thing to do on the staff.
That’s not true changes on the contract was not to any other terms and conditions only the company name change to Blue Group from Steinhoff. Redundancy rights etc remained the same
So many issues with this company, corrupt upper management, get rid!
New company way always going to buy and flip this quickly they bought it just before the main winter sale to make a fast injection of cash and now want out, they want to try and keep the bensons side as harvey’s furniture average wait for a sofa is 18 weeks unfortunately I think it’s just a matter of time before both brands will crash out of the market place. Fire sale due this week apparently, feeling very sad for all those people who have been working there thinking the new company was a safe pair of hands how wrong they were.
and no management has had the decency to talk to us and tell us what is going on
Thank goodness
I work for Harvey’s nothing been said to us but very concerned hopefully this is not the case
Such a shame that the greed, shit quality and despicable customer service threatens all these jobs. As an exception, Zain from Leeds branch of Benson for beds for lying to get my sale and causing over a year of misery still ongoing!
I worked at b4b last year and was totally disgusted at all that was going on at ground level, no proper management whatsoever!!, treated like crap, long hours, rubbish pay and the First £500 of any commission earned was ‘snatched back’ I am well out of this terribly run business and will not be surprised when it all goes bust, soon I hope.
What a surprise my bed is knackered after 6months waiting on furniture ombudsman to reply
Too much sex?
I work for this company at the moment and my question is where are these stories coming from as we have had no internal communication with alteri to confirm or deny this story???
We have an order for a pre packed bedroom wardrobes coming in early April, would the stock be in the UK already
We also have an order of prepacked bedroom furniture for £2000 due for delivery 30 March (ordered mid February) and have just receive a message telling us deliveries have been postponed for 3 weeks due to Corona Virus! Will Bensons cancel the order and give a refund?