The new owner of a national linen and bedding retailer has hailed the historic brand's turnaround after accounts for its latest financial period were published.
Julian Charles, which was founded in 1947 and headquartered in Manchester, operates more than 75 stores and concessions around the 海角视频.
London-based SKG Capital completed its acquisition of the business in June 2020 ahead of it reporting a revenue of £30.7m and a pre-tax loss of £2.7m for the 18 months to the end of October that year.
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According to documents filed with Companies House for Rectella, which trades as Julian Charles, the business reported a turnover of £4.2m and pre-tax losses of £126.380 for the six months to the end of April 2021.
In the 18-month period to October 2020, the company made an EBITDA loss of £2.1m while in the period to April this year it has reported a breakeven EBITDA.
SKG Capital has said the turnaround has been the result of "strategic focus" on online, keeping its presence on the high street, the launch of new designs and patterns to appeal to a younger demographic and the "general resiliency" of the homewares market.
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Since its acquisition Simon Peck has been appointed managing director and Steve Edwards has joined from Ryman as finance director.
Neil Taylor, partner at SKG Capital, said: "Julian Charles is a strong British brand with a proud history, amazing people, and great product, and we are pleased to bring it back onto a sound financial footing once again.
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"There’s still more to do, but the business is firmly on the right path to further growth and in a strong position to navigate the new retail environment, both online and on the high street.
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"We are absolutely confident in the future growth and success of the business; the first months of this new financial year are seeing us make very positive steps towards profitability."
Mr Peck added: "I am delighted that we have restored the business to a stable financial position with the support of SKG.
"We are now in robust shape and are poised for an excellent period of future growth, with significant opportunities to deliver attractive profit this year."