Silentnight Group has today announced the proposed closure of its Silentnight Group Furniture Brands operations in Enfield, North London, and has now appointed McInnes Corporate Finance to commence discussions with a number of interested parties to secure a future for the portfolio of brands.

Over the past two years the Silentnight Group has undertaken a significant restructuring of its loss-making Furniture Brands business, in an attempt to establish a positive and profitable future for their Parker Knoll, Nathan, Stag and Ducal brands.

With transition away from UK manufacturing now complete, the Group has conducted a comprehensive review of the business and its performance. Whilst this review highlighted some significant achievements to date, the overwhelming evidence was that the Group is still not close enough to seeing an acceptable return on its significant investment.

Commenting, Silentnight Group Chief Executive, Nino Allenza stated: “Despite all of our recent endeavours…we must recognise there is still a need for considerable outlay and management focus before we could deliver an acceptable return on investment.

Such is the resource needed, the Group could not continue to provide it without diluting the support we give to our bed brands and Silentnight Furniture, a move I am unwilling to make.

Consequently, and with considerable regret, I have today had to announce this proposal for the closure of our Enfield operations. As a result we are now exploring all the options available to us to see whether a future can be secured for these prestigious brands.”

For further information please contact:

Tim Edwards
Tel: 0113 245 4965

Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment and business activities