River Island duo helps lift profit at posh furniture group Loaf

River Island duo helps lift profit at Loaf: Clive and Ben Lewis bought controlling stake in posh furniture group

Profits at posh furniture group Loaf rocketed by 75 per cent following a takeover by the family behind River Island. 

The firm raked in £12.8million in the year to March, according to accounts filed at Companies House. Sales rose as customers spruced up their homes during the pandemic. 

Loaf paid a £20million dividend during the year to its parent group. 

A good sign: Clive and Ben Lewis bought a controlling stake in posh furniture group Loaf

Clive and Ben Lewis bought a controlling stake in the company – which is registered in Jersey – late last year through their investment group Blue Coast Capital. 

The deal valued Loaf at more than £70million. 

Etonian entrepreneur Charlie Marshall set up the firm in 2008 using cash from the sale of another company after he spent a whole Saturday trying to buy a bed. 

Marshall, 48, expanded it into sofas and bedroom furniture in 2012 and attracted investment from Peter Simon, the Monsoon and Accessorize founder, in 2014. 

Turnover soared by 52 per cent to £94million last year.

https://www.thisismoney.co.uk/money/markets/article-11420879/River-Island-duo-helps-lift-profit-posh-furniture-group-Loaf.html