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Magnet: Hundreds of jobs lost as kitchen maker closes more stores Business More than 300 jobs have been lost at the company behind kitchen maker Magnet as it continues its fight to return to profit. Nobia Holdings UK has been attempting to turn itself around since 2019 when it last made a pre-tax profit. Since then its transformation plan has seen hundreds of jobs lost and stores across [...]
Magnet: Kitchen maker bets on premium as huge losses continue Retail The group behind kitchen maker Magnet is hoping expanding into the premium market will help it return to profit after falling to another huge loss and cutting hundreds of jobs. Nobia Holdings UK, the company behind the brand, has set about restructuring itself in recent years after not making a pre-tax profit since 2019. But [...]
Losses neared £70m at group behind kitchen maker Magnet due to cost-of-living crisis Retail Almost £70m was lost by the group behind kitchen maker Magnet after being hit by "unprecedented" inflation, "elevated" energy prices and "notably subdued markets" due to the cost-of-living crisis.