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Courts has sold Courts Contracts, which fits out show homes for housebuilders and has 90 staff at eight warehouses, to a management buy-out for undisclosed terms.

Courts, the furniture retailer, is planning to relocate its Wimbledon head office to an existing site in Morden.

Courts is considering plans to open up to 50 new furniture superstores, and is also piloting a new format for its 32 high street outlets.

Courts is planning to introduce a new format at its chain of 90 furniture and electrical stores over the next two years, and is also considering further expansion in Asia.

Courts is planning to open up to 33 furniture and electrical stores this year, including 30 overseas, and also hopes to complete the refurbishment of its UK chain.

Courts, the home furnishings and electricals retailer, is to open five more outlets in the UK next year, and has announced joint ventures to open stores in South Africa and Madagascar.

Courts is planning to expand its overseas furniture stores from 50 to 80 outlets, but has warned that about a third of its 38 UK stores may be closed.

Courts is acquiring the Burns Philp chain of furniture stores in Fiji, which will give it a 60% share of the furniture retailing market.

Courts, the electrical and furniture retailer, is planning to open up to 10 UK superstores this year with an emphasis on northern England.