Mor Furniture for Less

6965 Consolidated Way, San Diego, CA 92121

3.5

BPI
Financial Rating

4.5

BPI Stakeholder Rating

3

BPI Social Responsibility Rating

Mor Furniture for Less was founded over 40 years ago with an industry-leading reputation ranking 33 among the top 100 furniture retailers in the US in Furniture Today for 2020. With over 35 stores in 7 states, we work hard to create and nurture long-term relationships with our customers, employees, and suppliers. The organization started in 1977 as a family-operated waterbed store in San Diego, California. In 1983, the company opened a location in Spokane, Washington and has expanded into six other states throughout the West Coast within Oregon, California, New Mexico, Nevada, Idaho, and Arizona. In 2020, Mor Furniture for Less was acquired by Healthcare Co., Ltd., a Chinese home furnishing conglomerate best known as a mattress manufacturer and the owner of Mlily USA. “Healthcare Co. is an ideal partner with deep roots in the mattress business and they share the same company values as Mor Furniture,’ Richard Haux Jr., CEO and President of Mor Furniture for Less said in a statement on the acquisition. “With some of our original investors nearing retirement age, the timing is perfect to bring on a new partner with a fresh perspective for the next steps in our journey.”

3.7

Overall Excellence Rating

Industry

Retail

Category

Home Furniture & Housewares

ESG/Ethical Impact

MORhomes PLC was created for the housing sector by the housing sector to help increase the supply of desperately needed affordable homes in the UK. Social and environmental impact sits at the core of our aims and ethos. The proceeds of MORhomes bonds are on-lent to housing associations which means they are always used for sustainable or social purposes. As at 31 March 2023, MORhomes had £472m of Social Bonds and £47m of Sustainable Bonds in issue. MORhomes is constituted as a PLC and our shares are owned by 67 major not-for-profit UK housing associations 1 . Its public debt is traded on the London Stock Exchange. All MORhomes borrowers are housing associations; not for profit, social enterprises envisioning a world in which everyone can live in a good quality home they can afford. They are delivering ambitious programmes which will deliver lasting social and environmental benefits. Social and sustainable impact has been at the core of MORhomes since its inception. From our launch, all MORhomes bonds were issued as Social Bonds in accordance with the ICMA Social Bond Principles 20185. In November 2021, we went one step further and issued our first Sustainability Bond. We were early adopters of the SRS (Sustainability Reporting Standards for Social Housing) and in 2021 we launched our innovative Sustainable Housing Assessment (SHA). More details about this can be found in Section 3 – Sustainability Progress. In 2020, MORhomes was awarded ‘Social Bond of the Year’ by Environmental Finance. Our bond was described as ‘pioneering’ as it was the first sector bond to be priced under a social framework.

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Awards Received

2023

Revenues

$120,000,000.00

Website Traffic

Employee Rating

3.8

Customer Rating

4.7

Company Size

100-1000

ESG Risk Rating

3

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