SUY Scs Upholstery

    RNS Number : 7380W
  ScS Upholstery PLC
  16 June 2008
   

    For Immediate Release                                                                                                      15 June 2008


    ScS Upholstery ("ScS" or "the Company")

    Further to Press Comment

    As has been widely reported the challenging retail conditions have had a negative impact throughout the furniture retailing sector.
Despite the previously announced downturn in sales, ScS's conservative financing structure was considered appropriate for prevailing trading
conditions. However, the unexpected and sudden withdrawal of credit insurance from the market, which has impacted us and other retailers,
has placed a strain on the working capital needs of our suppliers. We continue to trade with all our suppliers with whom we have a symbiotic
relationship and we are working to address their and therefore our, working capital requirements.

    Currently we are cash positive with no net debt.

    Following the announcement issued on 11 June, the Company and its advisors continue discussions with a number of external parties to
raise additional working capital. 
    
For further information, please contact:
    Nicola Cronk, Buchanan Communications
    020 7466 5000


    ENDS

This information is provided by RNS
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