[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Friday, 3 October, 2003, 16:23 GMT 17:23 UK
New suitor for Silentnight
Silentnight logo
Bed manufacturer Silentnight - which has been hit by falling profits - has revealed it has received a potential takeover offer.

The bid for the firm, based in Barnoldswick, Lancashire, comes just weeks after its founders launched their own bid to make it a private company.

It is not known who the new potential owners are.

Soundersleep, which includes members of the founding Clarke family, said it would buy shares in the group it did not already own, valuing the company at 72.2m.

It has told Silentnight it has no intention of selling its shares to or launching a joint takeover bid with another party.

900 staff

The firm has recently been hit by tough trading conditions and cut 800 jobs from its furniture division in April and has closed two factories.

About 900 people are currently employed at its Lancashire headquarters.

Silentnight was set up in 1946 by the late Tom Clarke and his surviving wife Joan and was floated on the stock exchange in 1973.

Soundersleep is a subsidiary of Famco - a firm set up by the Clarke family to hold shares in trading companies on their behalf.

Silentnight poised to go private
12 Sep 03  |  Lancashire
Job cuts loom at Silentnight
10 Apr 03  |  Business
Furniture factory jobs cut
04 Apr 03  |  England
Job losses rise at factory
02 Dec 02  |  England
Workers end redundancy protest
25 Nov 02  |  Northern Ireland
Silentnight closes factory
18 Apr 02  |  Business

The BBC is not responsible for the content of external internet sites


News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific