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| | | | 16/07/2012 | Retail Week, Nicola Harrison - Dreams owner lays out restructuring proposal | | | | | Restructuring proposed by Dreams owner | | | | | Retail week has reported the Dreams owner is tryng to take control of the bed specialist from its lenders as part of a planned restructure involving more investment and, potentially, store closures.
Exponent Private Equity yesterday told Dreams’ main lender Royal Bank of Scotland that it is willing to inject tens of millions of pounds into the debt-laden business, according to Sky News.
Sources have indicated that chairman Steve Johnson, drafted in by Exponent, and Alan Fort, a retail restructuring expert hired by the banks, have struggled to reach an agreement on the nature of any restructuring.
Exponent bought Dreams from founder Mike Clare in 2008 in a deal worth over £200m.
Dreams, Exponent and RBS refused to comment. |
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