Today in retail: Buyers wake up to Dream acquisition

No comments

Dreams has drawn interest from Chinese buyers in the first round of bids for the business, which was put up for sale in January.

The mattress and beds specialist drafted in Rothschild to handle the auction which so far has attracted Chinese mattress manufacturers and competitors Mlily and King Koil China as well as UK outfit Silent Night.

Dreams is one of the only retailers in recent years to successfully engineer a turnaround after entering administration.

Earlier this year, boss Mike Logue told Retail Week that a sale process would not distract him from his long-term goals – and that he hoped to remain at the helm of the retailer he has revived.

Also today, Sports Direct staff agency Transline, which has been teetering on the brink of administration, is nearing a rescue deal, homeware etailer Amara has narrowed its full-year losses and footfall in April was boosted by the timing of Easter and tourism.

Quote of the day

“Retail CIOs can be stuck in the old physical store infrastructure, not mobile and digital-first. You need people who understand the old importance of getting into the store as well as the whizzy website interface”

Practicology principal consultant Antony Welfare on Sainsbury’s appointment of former Telefónica CIO Philip Jorand as its new CIO