Sofology sold to rival retail chain
Sofology, the Wigan-based sofa retailer, has been sold to rival chain DFS for an initial enterprise value of £25m.
Further payments could be made a year after completion, based upon a multiple of seven times the underlying EBITDA generated by Sofology, up to a capped total of £105m.
Sofology has a network of 37 stores in the UK, as well as a strong web presence. It reported an EBITDA loss of £2.7m for the year to the end of December 2016 with statutory pre-tax losses of £8.9m on revenue of £143m.
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