Sunderland-based ScS opens the London Stock Exchange

The market was opened by CEO David Knight and 20 ScS staff from the Sunderland head office and stores across the country

David Knight, CEO of ScS with 20 staff from the Sunderland head office at the London Stock Exchange
David Knight, CEO of ScS with 20 staff from the Sunderland head office at the London Stock Exchange

Directors at Sunderland furniture retailer ScS took 20 staff from around the UK to capital as the firm opened trading in its first week on the London Stock Exchange.

ScS, the sofa carpet specialist with 97 stores across the country, started trading on Wednesday at 175p, and at time of publication shares had reached 191p.

The market was opened on Friday by David Knight, chief executive officer, and 20 ScS staff from the Sunderland head office and stores across the country.

The LSE listing by the company, which employs around 1,400 people across the UK, represents an exit for US private equity firm Sun European Partners LLP, which bought ScS out of administration in 2008.

Through Parlour Products Holdings, an affiliate of Sun European Partners, the firm hopes to make £35m from the float. Parlour Products Holdings will hold around 41.6% of the issued ordinary share capital of the company on admission.

Mr Knight said: “We have made significant progress over the past six years. We are now a bigger and better business with more diverse revenue streams demonstrated in particular by the success of brands within our sofa offering as well as our flooring offering.

“We are now well placed to capitalise on this growth.”

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