Friday, February 22, 2019

£400m sale on the cards for Dreams


The UK‘s biggest beds retailer is set to go on sale for £400 million, three years after it went into administration.

Dreams was saved from the brink of collapse in in 2013 when it was bought out of administration by Sun European Partners, saving 1600 jobs.

There has since been a steady improvement in finances, posting a £13.1 million pre-tax profit last year compared to £400,000 in 2014.

According to the Sunday Times, Dreams could be sold for £400 million and could be confirmed by later this year, although there is no list if possible buyers as yet.

Before Sun saved the company in 2013, Dreams was owned by Exponent, which bought the business for £200 million in 2008.

However, the GFC struck soon after and growing debts eventually caught up with company, which eventually led it to administration.

Dreams has 180 stores around the UK.