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06 July 2011

Sharps rises from the ashes of Homeform

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A company backed by its former directors has acquired Sharps, the bedroom furniture division that was widely seen as the only profitable part of the Homeform operation.

On the deadline day for officially appointing an administrator for the defunct furniture group that included Moben, Dolphin and Kitchens Direct, a new company Sharps Bedroom Ltd has announced it has bought it straight out of administration.

The business will continue to be headquartered at the Sharps factory at Bilston and will operate from 96 showrooms and concessions that are currently existing Moben/Sharps/Dolphin outlets.

The sale is backed by Sun Capital Partners, the same investment group that owned Homeform, and will be headed up by Homeform CEO Chris Pavlosky.

While it is unavoidable that this will be seen by some as a 'phoenix' company, the new Sharps Bedrooms insists that the sale has not only safeguarded 627 jobs but also ensures that customers will not be left out of pocket.

Anyone who has paid a deposit for a Sharps bedroom will have them honoured and all warranty and product guarantees will be supported. Sharps customers with outstanding orders will be contacted to confirm their delivery schedule.

Kevin Smith, managing director of Sharps, said: "It is 100% 'Business as Usual' for Sharps. This is and always has been a successful and market leading business and we look forward to developing it further to make Sharps even better".

When the intention to go into administration at Homeform was first announced it was implied that buyers for both Sharps and Kitchens Direct has been lined up, however this became unlikely as the week went on. A spokesman for Homeform said buyers were still being sought for Moben, Dolphin and Kitchens Direct.

The Homeform adminstrator is Marielle Legair at Deloitte - 020 7007 7320

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