UK-based sofa manufacturer Westbridge has revealed plans to enter a consultation period with its managerial and support staff, leading to significant changes starting the week of September 2nd.
In an already challenging retail market, Westbridge has been further affected by Marks & Spencer's (M&S) decision to exit the bulky furniture market in March, with the last orders from M&S received on July 31st. The exit by M&S has prompted Westbridge to initiate several strategies to enhance efficiency and manage resources in the short term. This includes launching new furniture ranges in Q3 with key retail partners to recover volumes.
Photo: Westbridge.
Tom Prestwich, CEO of parent company The Belfield Group, calls the current situation 'the most challenging retail market since the financial crisis of 2008'. Westbridge is working hard to make the business more efficient and to adapt to the market. 'We need to make more substantive changes to protect the business,' he says.
Source: furniturenews.net