Dreams nightmare averted!

dreams beds salisbury
Dreams, the UK bed and associated products retail specialist with 266 stores across the British Isles, and with approximately 2,000 employees, which became the latest victim of the High Street spending squeeze, when it was forced into administration, has been sold to a new company controlled by Sun Capital partners.
Joint administrators Ernst and Young said the new owners would honour customer orders where part payment deposits have been made for goods and customer warranties.Alan Hudson, Joint Administrator, said: “High street retailers have faced unprecedented conditions over recent years, and the market for higher value discretionary purchases has been particularly tough.“Dreams is a well known market leader, but in common with many others has suffered as a result of this depressed retail environment, a rapid expansion of its store portfolio and onerous lease liabilities.“Whilst recent performance has improved, it has seen a decline in like for like sales across its store portfolio as well as its operating margins being squeezed.“This has resulted in the business being unable to continue to operate outside of administration.Read More: birminghampost.net/birmingham-business/

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