Howdens Joinery
| File:Howdenslogo.png | |
| Public (LSE: HWDN) | |
| Industry | Furniture |
| Founded | 1995 |
| Headquarters | London, United Kingdom |
|
Key people
|
Will Samuel, (Chairman) Matthew Ingle, (CEO) |
| Products | Kitchens and joinery |
| Revenue | £1,090.8 million (2014)[1] |
| £189.8 million (2014)[1] | |
| £148.7 million (2014)[1] | |
| Website | www.howdens.com |
Howden Joinery Group plc is the parent company for the Howdens Joinery business (Howdens), a supplier of kitchens and joinery products, which are sold to small builders. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.
History
Howdens was established in 1995, as a business unit within MFI Furniture Group plc (MFI).[2]
In October 2006, MFI sold its loss making MFI retail business to Merchant Equity Partners for £1, while retaining Howdens.[3][4] At the same time, the name of MFI was changed to Galiform plc.[3]
In November 2008, the MFI retail business entered administration, Galiform becoming liable for the costs associated with 46 MFI stores. An exceptional charge of £99.7m was incurred in 2008 to cover these costs. At this stage, Galiform was liable for the costs of over 80 properties previously used by MFI (the legacy properties).[5]
By December 2012, the legacy properties had been reduced by over 80%, mainly due to landlords agreeing to the early termination of the associated leases in return for a one-off payment.[6] In September 2010, Galiform changed its name to Howden Joinery Group plc.[7]
Operations
Howdens' kitchens are manufactured at plants in Runcorn and Howden.[8] The company has over 604 depots in the United Kingdom, and also trade from several depots around Paris, France, under the name of Houdan Menuiseries S.A.[9]
References
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- ↑ 3.0 3.1 MFI sells store chain in £1 deal BBC News, 22 September 2006
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- ↑ Sturdy trading at Howden Investors Chronicle, 4 March 2011
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