Upmarket upholstery manufacturer Brunstad is to pull out of the UK by the end of the year after warning it sees no improvement by 2015.
'The financial crisis in the recent years has, unfortunately, contributed to the difficulties in establishing our company to the extent that we hoped for when we entered the UK market.
The general development in the market so far gives us no optimism even if we look 1-3 years ahead. After four years of efforts without any earnings we have finally had to make this hard decision,' says Egil Ulvestad, Brunstad marketing director.
'We will, therefore, not take on any new retailers with immediate effect, and we request all our current stockists phase out our products by December 2012; after which we will no longer have stock of the fire retardant foam.'
Sally Simmons, Brunstad UK sales representative will leave the company but David Hutchings, UK agent will continue until the end of the year.