// Loaf puts itself up for sale after a surge in demand for beds and sofas
// The furniture retailer appointed Grant Thornton to run a sale which could value it at £70m
Loaf is reportedly exploring options for a £70 million sale after witnessing a rise in demand for beds and sofas during the Covid-19 pandemic.
The furniture retailer, which is led by chief executive and founder Charlie Marshall, has appointed Grant Thornton to run a sale, The Times reported.
In the year ending March 2020, Loaf’s sales grew six per cent to £51 million while underlying profits rose 13.6 per cent to £5 million.
Loaf was born out of online bed retailer The Sleep Room, and expanded into sofas and bedroom furniture in 2012 when it rebranded as Loaf.
Loaf’s rival Made.com, which sells online in the UK and Europe, is also nearing a stock market listing.
The retailer is working with Liberum, Morgan Stanley and JP Morgan on the float.