A well-known UK-based mattress and bedding company is working on a financial reorganisation to secure its future. They recently filed a notice of intent to appoint an administrator (NOI) in Newcastle, giving it ten days of protection from creditors while seeking a solution to its financial troubles. This filing often signals either an asset sale or restructuring of company debts. The company in question is Mammoth Sit and Sleep Limited, one of the Mammoth Group's entities.
Photo: Mammoth.
Mammoth, known for its medical-grade foam technology and bedding products, distributes through major furniture retailers and independent sellers. These products are manufactured by licensed partners, including Airsprung Group, with whom Mammoth had a brief collaboration in 2022. Airsprung CEO, Tean Dallaway, confirmed that their relationship with Mammoth ended several months ago.
Earlier this year, Mammoth secured a six-figure investment from the North East Growth Capital Fund, aimed at helping the company navigate challenging trading conditions. The company has faced tough circumstances, compounded by the loss of suppliers, over the past two years. The reorganisation plan aims to address these issues and protect the company's future.
Source: www.thefurnishingreport.com