The G Plan brand name comes from founder Ebenezer Gomme, who set up his first factory in 1898, and has since been used across its range most of sofas and recliners which feature motion control mechanisms.
A G Plan winged back vinyl chair was used in one of the most famous James Bond scenes, by supervillain Ernst Stavro Blofeld and his infamous white cat in the 1967 James Bond film You Only Live Twice. Last year SBI relaunched the infamous chair to celebrate the manufacturer’s 60th anniversary.
According to the company’s latest set of accounts, group profit before interest and tax increased by 48pc to £5.2m while a positive cash flow of £5m turned net debts of £4m into £1m of net cash. The company also reported an increase in shareholder funds to £19.9m, compared to £16.2m previous year.
SBI is currently owned by a consortium of financial investors including Barclays and Merrill Lynch after a debt-for-equity swap. In 2012 the business secured a £9m financial package with Santander.
The recession caused a huge amount of pain for furniture retailers, who were doubly hit by the collapse in house sales and customers lacking the confidence to make big ticket purchases.
However, the manufacturing sector is recovering.
Sofa.com, which has been marketed by advisers at Altium, is expected to announce a sales deal shortly while Lastminute.com founder Brent Hoberman’s online furniture retailer Made.com is exploring a stock market flotation.
A spokesman for SBI said it didn’t comment on market speculation. Catalyst also declined to comment.
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