Dreams (UK)

Dreams is the UK's largest retailer of beds and bedroom furniture, selling a wide range of third party brands as well as own-label or exclusive brands such as Hyde & Sleep. Launched by husband and wife Mike and Carol Clare in 1985, the business expanded rapidly during the late 1980s and 1990s and was acquired by private equity firm Exponent in 1998 for 222m. The chain continued to expand rapidly, taking advantage of the collapse of several rival retailers. At its peak there were 270 stores nationwide. However, it encountered financial problems of its own after 2010 as a result of the economic downturn. Following a pre-agreed administration it was acquired in 2013 by another private equity fund, Sun European Capital, for just 35m. At the same time, it shut around more than a third of its UK stores, mostly larger warehouse-style premises, ending up with an estate of around 160 mid-size outlets. New CEO Mike Logue has overseen steady improvement and expansion since then, with store numbers back over 180 by the end of 2016. Sales for that year are expected to hit £285m (up from around £170m in 2013), and Sun Capital was reported to be exploring a potential sale of the business. Subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

Capsule checked 24th February 2017

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