SCS: Chief who oversaw £100m take-private deal to step down

The chief executive who oversaw SCS’s departure from the London Stock Exchange after accepting a takeover deal towards the end of 2023 is to step down this summer.

Steve Carson has been in the role at the Sunderland-headquartered sofa giant since November 2020.

He has previously been group managing director at Holland & Barrett and held roles at the likes of Home Retail Group, Homebase and Sainsbury’s.

SCS was taken private after accepting a takeover offer from Italian furniture retailer Poltronesofà in October 2023.

That deal valued SCS, which has around 100 stores across the UK under its own brand as well as Snug, at £99m.

Poltronesofà operates more than 150 stores in Italy, 106 stores in France and a couple of dozen more across the rest of continental Europe.

“The right time to move one” – SCS boss

A spokesperson for the ScS Group said: “Steve has decided that now is the right time to move on from ScS.

“He will depart knowing the group’s future is bright, having played a central role in bringing about considerable investment via a new ownership structure and enabling transformative progression with a rebranding exercise.

“He leaves with a strong legacy and the thanks of the entire business and new ownership for his effort and drive in pursuit of a clear purpose to support customers in ‘helping create a home they love’. Steve departs in July and will ensure a smooth transition.”

For its most recent financial year, the 12 months to July 29, 2023, SCS posted a revenue of £325.9m, down from £331.6m, while its pre-tax profits fell from £16.4m to £6m.

SCS can trace its roots back to 1894 and listed on the London Stock Exchange in 1997. The company formally delisted in January 2024.