Flair Furniture, the rapidly expanding furniture retail group that owns Bed Kingdom, has acquired certain assets of Cuckooland, an ecommerce furniture retailer that faced challenges in the post-Covid trading environment.
Flair has acquired stock and IP from Dorchester-based Cuckooland, valued at over £800,000. The assets include various components crucial to Cuckooland's operations.
Despite experiencing a doubling of sales during the pandemic, Cuckooland encountered difficulties 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, explains: “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. Last year, the company made the Sunday Times Top 100 list after achieving a 76.06% average annual sales growth over the past three years.
To bolster its rapid growth, the ecommerce group opened a new 70,000 sqft facility last year to house stock and become the main distribution site for its brands. More recently, Flair Furniture was named in the Yorkshire Fastest 50 Companies list for 2024, an initiative from The Yorkshire Post and law firm Ward Hadaway to celebrate the region's fastest-growing privately owned companies.
Pictured: Flair's Levon Hall (marketing manager); Gurvinder Bhatha (marketplace manager); and Ashley Hainsworth
