Swedish kitchen furniture manufacturer Nobia exits UK

Swedish kitchen furniture manufacturer Nobia AB said it will exit the UK market to concentrate on its Nordic operations, citing structurally weaker profitability in Britain and a need to focus capital on markets offering stronger margins and operational synergies. The company said challenging market conditions in the UK following Brexit and the COVID-19 pandemic have required sustained investment in its store network, weighing on returns. By contrast, Nobia said its Nordic business offers better margin potential and clearer opportunities to improve efficiency, particularly following recent investments in automated manufacturing. As part of this shift, Nobia has agreed ...