Hunter Douglas, the parent company behind Luxaflex, is in a challenging situation. Since Ralph Sonnenberg sold the window coverer to 3G Capital, a billion dollars has already been lost. Last year, on sales of nearly $4.5 billion, it made a loss of $533 million. That was even more than in 2022. Then Hunter Douglas ended $505 million in the red, Quote reports.
The recent annual report shows that Hunter Douglas is struggling. The company is struggling with economic setbacks, high interest rates on their debt, a shortage of staff and increased raw material costs for wood, plastic and aluminium. Although the operating loss fell from $374 million to $98 million and cash flows increased to $474 million, there were still significant goodwill write-downs: $549 million in 2022 and another $519 million last year.
Source: Quote
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