British retailing giant KingFisher and French brand Conforama are interested in buying the Italian furniture retailer Mercatone Uno, the financial newspaper MF (Milano Finanza) recently reported. KingFisher, according to the Milan based newspaper is interested in entering the Italian market in order to compete with Ikea. Conforama aims to strengthen its current presence in the Italian market, where it only has 15 stores.
Mercatone Uno, the Italian retailer founded by Romano Cenni and Luigi Valentini, has submitted a composition agreement with creditors on Monday, January 20. Mercatone Uno has 80 stores in Italy with a workforce of 3,700 employees. Revenues fell to €600m in 2014 as the company estimated its debt at about €420m.
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