Cargo to become online only brand
Interiors chain Cargo is to become an online only brand after owner Steinhoff decided to convert some of its stores to Bensons for Beds.
An unspecified number of Cargo’s 42 branches will be converted to the bed retailer to bolster Bensons’ presence in the south-east of England.
The Cargo name will then disappear from high streets by the end of March 2016.
‘Over the last few years Bensons for Beds has delivered consistent growth, making it now the UK’s leading specialist bed retailer. The company has decided to accelerate this growth by utilising some of the group’s retail premises in the south-east,’ says a Steinhoff statement.
‘As such, a number of Cargo stores will be rebranded to the Bensons fascia in order to give it additional presence in the Southeast and optimise the business’s return from its store portfolio.’
Cargo currently has stores in Amersham, Banbury, Barnstaple, Bedford, Bracknell, Camberley, Chichester (pictured), Cirencester, Crawley, Derby, Didcot, East Sheen, Farnborough, Finchley, Fleet, Gerrards Cross, Guildford, Hatfield, Henley, Kingston, Horsham, Leamington Spa, Loughborough – its most northerly, – Maidenhead, Market Harborough, Marlow, Newbury, Oxford, Putney, Reading, Redhill, Salisbury, Staines, Swindon, Thame, Tamworth, Walton, Wantage, Wimbledon, Woking, Witney and Wokingham.
Steinhoff UK saw sales rise by 5% to £470m with pre-tax profits up 42% to £20.8m in the year to 28 June 2014.