Leading upholstery and furnishings group Belfield, has announced plans to exit the soft furnishings market. As a 'white label' and branded manufacturer, Belfield's products are sold by the UK's largest retailers, both in-store and online. The group has announced its Belfield Home business is expected to wind down by January 31, 2025.
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Previously known as Design Studio, Belfield Home operates one of the UK's largest fabric workrooms, specialising in curtains, blinds, and home interior accessories. The decision marks a significant shift for the company, which will focus on restructuring its operations across other divisions.
This announcement follows news of a factory consolidation within Belfield's sofa manufacturing arm, Westbridge Furniture, and a downsizing initiative at Belfield Leisure.
The decision comes amid declining financial performance. Belfield reported a nearly two-thirds drop in profits for 2023, falling to £316,000, with revenue down 9.4% to £35.2 million.
The company's restructuring aims to adapt to challenging market conditions while refocusing its operations to ensure long-term sustainability.
Source: www.thefurnishingreport.com
