Embattled mattress retailer Eve Sleep has been rescued out of administration by Bensons for Beds.
The direct-to-consumer specialist confirmed on Monday that it had appointed Matt Ingram and Jimmy Saunders from Kroll as joint administrators at the same time as announcing its sale.
Bensons for Beds has acquired Eve Sleep’s brand and intellectual property for an undisclosed sum and will be taking over its website immediately.
The bed retailer said the move, which was backed by owners Alteri Investors, will allow the business to expand its appeal and drive its digital development.
Bensons for Beds added that it intends to keep Eve Sleep as a standalone brand and relaunch the website later this month.
Ingram said: “Eve Sleep is a well-established brand with huge visibility across the UK; however, it faced a challenging market backdrop over the past year.
“The company launched a formal sales process in June 2022 but with UK consumer confidence reaching a record low in August 2022 this process was unsuccessful.”
Bensons for Beds chief executive Nick Collard said: “Eve Sleep is a brand that we know resonates strongly with key customer groups and we’re looking forward to unlocking its full potential as it takes advantage of our scale and reach.
“What’s more, bringing in Eve Sleep alongside our own growing portfolio of high-quality in-house brands will help us widen Bensons’ appeal to a broader set of customers,
“With the backing of our owner, Alteri Investors, this is another indication that we are delivering on our pledge to fulfil the promise of the Bensons for Beds brand itself – not just as a retailer of market-leading proprietary brands, but with a distinctive and coherent set of owned brand sleep solutions for any customer, both digitally and through our stores.”
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