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Dreams bed store in Dorchester to remain open after going into administration
DREAMS bed store in Dorchester to remain open after being place in administration.
The UK’s leading specialist bed shop Dreams PLC, which employs 2,000 people nationally was placed into administration yesterday.
But today, the company has been sold so 171 stores will be saved from closure, including the Dorchester store in Weymouth Avenue, Dorchester.
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.
“However, we are pleased to announce that a sale has been completed that sees the majority of the Dreams business including 171 of its stores, its head office and its two UK manufacturing facilities being sold to a new company controlled by Sun Capital Partners.
"The business will continue to trade without interruption, over 1,600 jobs have been transferred and the future of Dreams on the UK high street has been safeguarded.
"The remaining stores that are not included in the sale will remain open for business whilst the Administrators seek to find buyers for these stores.”
The new owner will honour customer orders where part payment deposits have been made for goods and customer warranties.