Eve Sleep purchased by Bensons for Beds

It comes after the online mattress retailer succumbed to what its chief executive described as an “economic tsunami”. 

Speaking at the time, Cheryl Calverley said: “It is heartbreaking to have to acknowledge that the best way to preserve value for creditors, those partners and suppliers that have helped us on this journey, is to now terminate the formal sale process and appoint administrators. 

“Having seen the year start so brightly, with the efforts of the team over the past three years in rebuilding Eve into a business fit for profitable growth coming to fruition, the frustration at the unprecedented downturn in the market over February and March was felt all the more keenly. 

“Despite monumental efforts to restructure the business and reshape the cost base, the scale of eve was simply insufficient to withstand the economic tsunami that has gathered momentum over the past six months, and allow it to continue as an independent business.” 

Bed retailer Bensons has acquired the brand, website and intellectual property of Eve Sleep for an undisclosed amount, and has plans to relaunch the business online this month. 

The mattress maker had drafted in administrators from Kroll after it failed to secure a solvent sale of the company. In a statement by the firm, it said shareholders were unlikely to see any payout from the insolvency process. 

Earlier this year the business put itself up for sale after failing to turn a profit after it was listed on the Aim market and came under pressure from the cost of living crisis. 

Commenting on the purchase, Bensons for Beds chief executive Nick Collard said: “Eve Sleep is a brand that we know resonates strongly with key customer groups and we’re looking forward to unlocking its full potential as it takes advantage of our scale and reach.

“What’s more, bringing in Eve Sleep alongside our own growing portfolio of high-quality in-house brands will help us widen Bensons’ appeal to a broader set of customers.

“With the backing of our owner, Alteri Investors, this is another indication that we are delivering on our pledge to fulfill the promise of the Bensons for Beds brand itself - not just as a retailer of market-leading proprietary brands, but with a distinctive and coherent set of owned brand sleep solutions for any customer, both digitally and through our stores.”