Technology

Posted on November 28, 2016 by staff

Dunelm snaps up major brands in WS Group deal

Technology

Homeware retailer Dunelm has vowed to plough £15million into reviving the fortunes of well-known brands Worldstores, Kiddicare and Achica.

Dunelm agreed to buy out the £100m-turnover WS Group for £8.5m, once Robert Croxen and William Wright of KPMG are appointed joint administrators today.

Garden retailer Worldstores sells more than 500,000 products online and was established in 2008 by founders Richard Tucker and Joe Murray.

It now makes up the biggest part of the WS Group.

In a joint statement, the pair said: “We’re delighted to be working with Dunelm, in whom we have found a partner who shares our vision for our company and brands, and is backing our ambitious plans for growth.”

WS group, which employs around 650 staff, also consists of furniture specialist Achica, and baby superstore Kiddicare – which was bought by Worldstores in 2014.

John Browett, chief executive of Dunelm, said: “We are excited by this opportunity to accelerate the growth of our internet operation, more than doubling its size, and enhancing our position as the destination homewares retailer in the UK, both online and offline.

“Between the store network, broad product range and strong brand that Dunelm has built and Worldstores’ extensive homewares and furniture offer and unique platform for next day delivery and flash sales, we will strengthen our leading position as the UK’s Home of Homes.”

WS Group is expected to incur trading losses of about £5m-£10m in the financial year to 1 July 2017.