North East home furnishings retailer ScS has bought an innovative sofa firm in a pre-pack deal that saves 53 jobs.
The Sunderland firm announced it has acquired the brand, domain names, website, intellectual property and stock of Snugsofa.com from the administrators of Snug Shack Limited, for £875,000.
Snug was founded five years ago by Robert and Peter Bridgman as a challenger brand to pioneer the modular sofa-in-a-box concept. It became recognised for its speed of delivery, innovative product design and ability to fit into any home. In the financial year 2021 the company recorded revenues in excess of £30m, up from £7m a year earlier, while also winning industry awards and growing its social media community to more than 300,000 followers.
