DFS sale involves no planned job cuts, chaiman says

DFS founder Lord Graham Kirkham has moved to reassure staff that there are no planned job cuts in the sale of the sofa company.

Private equity firm Advent International bought the firm for a reported £500m, according to the BBC. Kirkham will stand down from his role as executive chairman, and Richard Baker, the former chief executive of Alliance Boots, will replace him.

Kirkham said: “DFS’s people, who have worked with me to grow the business to where it is today, are its most valuable asset.

“It is clear to me that Advent recognises this and their plans to expand DFS will continue to offer great career opportunities for everyone.”

Advent International intends to develop DFS online and roll out new stores. Currently the sofa company has 74 stores and employs about 2,600 people.

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