One of Australia’s oldest mattress manufacturers has entered voluntary administration after sustained financial pressure.
The family-owned company confirmed it had appointed administrators Peter Lucas and Damien Lau of P.A. Lucas & Co, while continuing to operate two companies not in administration.
“A.H. Beard has entered voluntary administration. Peter Lucas & Damien Lau P. A. Lucas & Co have been appointed administrators.
“[We] will continue to trade as normal in Australia during the administration phase with no current changes to supply chain or roles.
“The decision to enter administration reflects the sustained impact of three converging pressures…
“A sharp contraction in household discretionary spending, a structural shift in the retail market to low-cost imported mattresses, and material increases in manufacturing input costs.”
The collapse follows several years of declining performance, with losses totalling about $7 million across three years alongside falling revenue.
Financial filings reported by The Daily Telegraph show the company recorded a $664,971 pre-tax loss in FY25, improving from a $4.37 million loss the year prior, after also posting a $2.57 million loss in FY23. Its last profit was $1.91 million in FY22.
Revenue has also trended down, slipping to $134.01 million in FY25 from $147.48 million in FY24 and $142.03 million the year before.
Despite the downturn, the business retains a stable asset position, with $31.45 million in current assets and $30.67 million in liabilities, alongside $4.59 million in cash as of June 30.
Two companies under the helm of A.H. Beard – Advanced Sleep Products and Suparest Bedding – are continuing to run as usual and are not part of the administration process.
Chairman Albert “Garry” Beard delivered an emotional address to staff at the company’s southwest Sydney factory on Tuesday, reportedly in tears as he outlined the need to restructure, according to The Daily Telegraph.
Key industry figures described the development as a major loss, particularly given the company’s role in sustainability initiatives.
Chief executive of the Australian Bedding Stewardship Council, Kylie Roberts-Frost, said the news was a blow across the sector.
“The scheme of getting manufacturers on board with voluntary green measures – using recyclable materials and getting beds out of landfills at the end of its life cycle – would not exist were it not for the voluntary efforts of A.H. Beard,” she said to The Daily Telegraph.
“Today’s news about A.H. Beard is deeply saddening, both for me personally, for my team and for our industry.
“What makes this so difficult to sit with is that A.H. Beard was doing the right thing. They were investing in sustainability, supporting a stewardship scheme, and taking responsibility for end-of-life at a time when many in the industry are not.”
A.H. Beard was contacted for comment, but said it has no representatives available to speak at this time.
P.A. Lucas & Co were also contacted for further comment.