Published on 25 - April - 2012
Robert Dyas denies R Capital is potential buyerThe home and hardware chain has refuted claims in the press that restaurant and health club owner R Capital is among the four or five potential buyers currently caught up in a bidding war over the retailer.
Reports in the press over the weekend suggested that the owner of the Little Chef chain of restaurants R Capital was among the potential buyers. However, the Robert Dyas board has insisted this is not the case, stating that the restructuring specialist is, "not part of any sale process, a point that has been confirmed with the company's advisers and shareholders as well as with R Capital itself."
A spokesperson for the retailer added: "The sale process is progressing well, with strong interest being expressed from the UK and overseas. Trading at Robert Dyas continues to be robust: like-for-like sales growth was 3.8% in the company's last financial year to March 31, 2012 compared to 2010-11."
Key shareholders Lloyd's and Allied Irish have been in discussions to sell Robert Dyas since last summer. The auction of the retail chain is being handled by Cavendish Corporate and, while no information about the bidders has been released, it is believed that Wilkinson is still in the running as a potential buyer. The discount retailer would not confirm or deny rumours of its involvement and told DIY Week that it refuses to comment on media speculation.
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