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Silentnight owner a potential buyer for Dreams

Published: 18 January 2013
Beds manufacturer Silentnight is reportedly eying up bed retailer Dreams, which was put up for sale last month.
Silentnight owner a potential buyer for Dreams
According to reports, Dreams failed to persuade its owner, private equity firm Exponent, to invest in the business, resulting in the retailer being put on the market. Sky News has now reported that HIG Europe, which bought Silentnight back in 2011, is now interested in acquiring the beleaguered bed retailer.

It could mean Dreams avoids the same fate as recent high street casualties HMV and Comet. Ernst & Young is overseeing the sale of Dreams, and has reportedly asked for prospective buyers to submit offers by February 8 with the hopes of tying up a deal by mid March.

It is thought Mike Clare, Dreams' original founder, is also in the running to purchase the chain. Mr Clare sold Dreams to Exponent in 2008 for £200m.

Despite being saddled with substantial debt, Dreams reported like-for-like sales were up more than 7% during the pre-Christmas trading period.

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