Sofa specialist ScS appoints Alan Smith as chairman as IPO nears

A £70m IPO of ScS, which is backed by private equity house Sun European Partners, is likely to be announced in the next two weeks according to Sky News.

Smith ran Somerfield for two years in the early 2000s before leaving after a reported fall-out with the grocer’s executive chairman John von Spreckelsen. Smith also formerly chaired hardware specialist Robert Dyas.

Sun bought ScS after it plunged into administration in 2008 as the downturn bit.

ScS now has approximately 100 stores and it is understood Investec will handle the listing, which will be on the main market.

A decision to proceed with an IPO would depend upon market confidence but informal discussions with prospective investors were said to had gone well.

Under Sun’s ownership, ScS is thought to have upped has its share of the upholstered furniture market from 5% in 2009 to 7.9% in 2013.

As well as its own shops, ScS has run House of Fraser’s furniture concessions since August last year, broadening its customers base.

Various retailers – including ScS’s rival DFS - are thought to be keen to list in 2015 despite the poor performance of some of last year’s new arrivals on the public markets and uncertain prospects this year because of the general election.

An ScS spokesman declined to comment.