Jobs saved as Staffordshire bed importer Sleep Design bought
The Cannock-based bed importer Sleep Design has been rescued from administration by investment from Baaj Capital, saving all 22 jobs.
Business advisory firm Quantuma has completed the sale of online retailer Sleep Design, which trades as Crazy Price Beds, to businesses of Baaj.
Sleep Design fell into administration on November 22.
It has a business strategy of buying beds and mattresses directly from manufacturers and thus reducing the costs passed onto customers. It was founded in 2008 and bought by its existing shareholders in 2014.
The company, which imports its beds from China, operates from a single site at South Staffordshire Business Park, Hawkins Drive.
Sleep Design reported a turnover of £8 million in 2021 but, due to global factors including the pandemic, rising costs of shipping and materials, and the weakening pound against the dollar, was unable to sustain trading.
The sale of the business will see the firm continue to operate and secures all jobs.
Richard Easterby, director at Quantuma, said: “Ongoing global factors and economic uncertainty are continuing to provide challenging trading conditions. We were happy to assist in the rescue of Sleep Design, and preserve value for creditors.”
