By John Smith • 17 November 2019 • 17:00
New owner for bed stores
Credit: Philafrenzy Creative Commons
SOUTH AFRICAN retailer Steinhoff has confirmed that it is to sell its loss-making UK furniture business Blue Group to European retailer Alteri Investors.
Although no details of the value of the sale have been released, it is known that Blue Group which owns UK-based furniture companies Harveys Furniture and Bensons for Beds has an annual turnover of some £500 million (€550 million)
The business operates 269 stores in the UK as well as four manufacturing sites and five distribution centres which between them employ 2,700 staff.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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