Sofa.com seeks quick sale as losses mount

LGT European Capital, which only took control of Sofa.com last year, is seeking a buyer despite insisting that it recently enjoyed its best-ever trading week, as sales jumped 30%.

According to Sky News, several parties have expressed an interest in the potential acquisition.

In the company’s latest full-year accounts covering the 12 months to February 28, Sofa.com said operating losses had more than doubled to £33.6m, after registering sales of £28.8m. 

Its potential sale comes amid a challenging time for the home sector.

Fellow furniture retailer Fabb Sofas fell into administration last June after just two years in business, while Carpetright has launched a CVA as it bids to slash rents and streamline its store portfolio. 

However, DFS said it had enjoyed a strong Christmas. Sales grew 10% on an underlying basis, as online gross sales jumped 22%.

KPMG declined to comment.