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Profit increase for furniture retailer

20 January 2016

Following the recent announcement that the Executive Board of Directors completed the management buyout of the Lee Longland Group, the business has declared impressive growth results for a fourth consecutive year.

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Lee Longlands, which boasts stores in Birmingham, Cheltenham, Leamington Spa, Abingdon and Derby, saw gross sales hit £18.7m last year, an 8.5% (average) year on year increase, since the business was restructured by the current board, back in May 2011.

The Company’s Operating profit increased by 20% on the previous twelve months to over £460,000 with the net profit (after tax) increasing by 30% to nearly £404,000.

During the year the business continued with its rebranding strategy by introducing its new logo and ‘See a different world’ marketing collateral.  It has also just refurbished its flagship Birmingham store on Broad Street.

“Since we took the business back to its core roots, some four years ago, we have concentrated on protecting the fundamental values, which the business was built upon. This has been achieved by focusing our attention on continuously enhancing the customers buying experience,” said Darren Campo, financial director for Lee Longlands.

He continued: “We have also invested heavily in key areas of the business including the recent addition of six new Mercedes Benz trucks to our Distribution fleet, for which we are undoubtedly now seeing the benefit in the form of sustained and profitable growth”.

Lee Longlands celebrated its 113th anniversary in 2015 and continues to offer the latest in contemporary furnishings, from sofas and dining furniture to carpets, beds, and accessories for the home.

For more information visit www.leelonglands.co.uk.

New Sofa Ranges - Carnival and Lexington

14 December 2015

CARNIVAL

Robust design and unbeatable comfort makes the Carnival fabric sofa range perfect for family homes.

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Available in a selection of pastel and neutral fabrics, the range is extremely versatile and would suit a variety of different rooms. Simple, low key design features mean this fabric sofa can easily be incorporated into any style of house, from sleek contemporary designs to more traditional aesthetics.

Built with the finest materials by expert craftsmen, the Carnival range is constructed to the highest standard possible.  As with all Lee Longlands furniture, we are confident that you won’t be disappointed with the quality of craftsmanship that has gone into this sofa range.

The Carnival range is available in a two seater sofa, three seater sofa, matching chair and designer stool.

LEXWORTH

The Lexworth leather sofa range is the pinnacle of comfort and relaxation, featuring the softest cushions and highest quality leather.

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With chunky soft arms and deep seat backs, this leather sofa range is perfect for sinking into after a long day. The seats contain pocket spring units covered with high density foam that is wrapped in fibre for extreme relaxation. The range also comes equipped either with manual or powered recliners, including the sofas, which means everyone in the household can enjoy the bliss of a recliner.

Available in a choice of leather grains to suit your needs. For families with young children or pets, who need hardwearing, long-lasting material, correct grains are perfect. For leather enthusiasts, aniline leather retains the hide’s natural grain, giving your sofa a natural, rustic feel.

The Lexworth range is available in two and half seater sofas, two seater sofas and matching chairs.

Not all of our stores carry every range. If you wish to view a collection please phone 0800 9961811 or email web1@leelonglands.com

MBO at furniture retailer

13 November 2015

Lee Longlands, one of the Midlands best loved furniture retailers, has
completed a management buyout for an undisclosed multimillion pound sum.

In the deal, facilitated by the incorporation of a new Parent Company,
Financial Holdings (Midlands) Ltd, the Executive Board of Directors have
acquired a 72% controlling stake in the Lee Longlands Group, which has six
stores located across Birmingham, Derby, Cheltenham, Leamington Spa and
Abingdon.

The Executive Board, comprising Darren Campo, Steve Tressler and Robert Lee,
will have full decision making control over all Group activities and will look
to increase their shareholding to 100% within the next three years.  The
28% minority shareholders, made up of original family members, will have no
input into the running of the business operations.

“This MBO ensures the retention of the leadership team and enables a more
longer term strategic focus, which will ultimately help the business to achieve
its aggressive growth targets,” said Darren Campo, financial director for Lee
Longlands.

“This deal isn’t about change, it’s about protecting the core values of the
business, which have been in existence since the company was formed over 100
years ago.  It’s about continuing to put the customer first throughout the
lifecycle of the buying experience, from initial contact with our sales team,
right the way through to post delivery care.  These are the values which
the business was built upon and which we will continue to focus on.”

The MBO was led by Darren Campo, with support and advice from RBS, Clement Keys
Accountants, Wilkes solicitors & Finance Birmingham.

The Group employs 107 people and has a turnover of £18.7m
gross sales.

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