Tue, 12 Feb 2013 | BUSINESS SALE
Bed retailer Dreams could be bought back by its original owner Mike Clare, after it was put on the market in January.
Ernst and Young was drafted in to manage the sale process by Dreams’ private equity owners last month. It has come to light that Mr Clare has put in a bid for the company. Meanwhile, Steinhoff International, the owner of Harveys and Bensons for Beds, is thought to have told Ernst and Young that it is interested in any stores not purchased by Mr Clare.
Dreams holds a leading 23 per cent of the beds market and sells from its 270 stores across the UK. After being bought by current owners Exponent Private Equity in 2008 in a deal worth £220 million, Dreams underwent fast expansion, focusing on moving into empty units in retail parks. Mr Clare remained on the board post-sale.
The bed retailer is believed to have £40 million worth of debt. About £20 million is owed to a consortium of lenders headed up by Royal Bank of Scotland.
The decline in sales of big-ticket items during the economic downturn has been another blow to Dreams, whose rivals include the likes of Argos, Ikea and John Lewis.
This ethical modest wear fashion brand, based in London, stands out with its commitment to sustainability, using 100% natural, biodegradable fabrics and offering elegant, hand-sewn designs.
This well-established catering and janitorial supply business near Aberdeen offers a unique opportunity to acquire a reputable brand known for its strong client relationships and impressive after-sales services.
This well-established solicitors' firm in West Yorkshire offers a unique opportunity with its limited company structure and prestigious LEXCEL & CQS accreditations.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.