For Immediate Release
11 February 2020
ScS Group plc
("ScS", or the "Company")
ScS, one of the UK's largest retailers of upholstered furniture and floorings, notes the announcement made earlier today confirming that Parlour Products Holdings (LUX) S.A.R.L ("Parlour") had sold its entire holding in the Company (the "Sale").
Further to the Sale, Mr Paul Daccus, who is Parlour's representative on the Board of the Company (the "Board"), has agreed with the Company that he will step down from the Board with immediate effect.
Alan Smith, Chairman of ScS, commented:
"Paul has been a director since the Company listed in 2015. Throughout that time, Paul's advice, commitment and support has been greatly valued by the whole ScS team. The Board will miss his contribution".
David Knight, Chief Executive of ScS added:
"On a personal note I would like to pass on my thanks to Paul and Sun European Partners, LLP for their huge support over the past 12 years".
ScS Group PLC
David Knight, Chief Executive Officer
Chris Muir, Chief Financial Officer
c/o Buchanan +44 (0)20 7466 5000
Tel: +44 (0)20 7466 5000
Tel: +44 (0)207 408 4050
Notes to Editors
ScS is one of the UK's largest retailers of upholstered furniture and floorings, promoting itself as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The Group's product range is designed to appeal to a broad customer base with a mid‐market priced offering and is currently traded from 100 stores.
The Group's upholstered furniture business specialises primarily in fabric and leather sofas and chairs. ScS sells a range of branded products which are not sold under registered trade marks and a range of branded products which are sold under registered trade marks owned by ScS (such as Endurance, Inspire and SiSi Italia). The Group also offers a range of third party brands (which include La‐Z‐Boy, G Plan and Celebrity). The Company's flooring business includes carpets, as well as laminate and vinyl flooring.
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