Bed retailer's record results
BED retailer Dreams has reported a record set of results as its private equity owner continues to search for a buyer for the firm.
The company, which is owned by Sun Capital Partners and has stores in Portsmouth, Fareham, Havant and Waterlooville, saw sales rise 20 per cent to £280m and pre-tax profit grow 136 per cent to £32m last year.
Dreams linked the growth to investment into store refurbishments and its Oldbury factory, where it manufactures over 200,000 mattresses and over 160,000 beds annually.
The 181-store chain collapsed into administration in 2013 before being bought by Sun, which has embarked on a turnaround in the face of rising online competition.
Sun is working with bankers at Rothschild to hunt for a buyer for Dreams, with an asking price around £400m. It is understood several US private equity firms have expressed interest.