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MSE News: Dreams in administration but orders and gift cards 'safe'

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"Dreams was placed into administration last night but its assets were immediately sold to a new company..."
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Dreams in administration but orders and gift cards 'safe'

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Comments

  • landsker
    landsker Posts: 65 Forumite
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    Beds are a "distress purchase" and low on people's priorities in tough times.
    No surprise to me they've gone through. I don't expect the "new" outfit to survive either,
  • ecoelle
    ecoelle Posts: 1,585 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
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    Anyone know what's happening with the 90 that didn't get bought by SCS? worried wife here:(
  • VT82
    VT82 Posts: 1,079 Forumite
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    Why does such a thing as a Dreams gift voucher even exist?

    - "Happy Birthday, here's a Dreams gift voucher"
    - "Oh thank you, it's just what I always wanted!"
  • Inca31
    Inca31 Posts: 3 Newbie
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    Hi I'm new to this but I have a query:

    We have ordered a new bed from dreams but it for our new house that we are not completing on for several weeks so we were holding off on delivery until then to save moving it ourselves as it is big and v heavy.

    If the new company changes its mind and stops honouring previous orders as the post above suggested where does this leave us? We bought the bed on interest free credit and they haven't taken a payment as yet..

    Thanks!
  • JAG
    JAG Posts: 1,304 Forumite
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    landsker wrote: »
    I don't expect the "new" outfit to survive either,

    Dreams has been trading well with sales up 7.2% year-on-year in the four weeks to 7 January, while total sales rose 8%, a record December and new year performance.

    The problem was the £3 million profit but £40 million pound debt. Now having the debt wiped out and start again.
    ecoelle wrote: »
    Anyone know what's happening with the 90 that didn't get bought by SCS? worried wife here:(

    I have read that the founder of Dreams Mike Clare, who sold the business in 2008, maybe interested in the other 90 stores and staff. He was one of the bidders looking to take back all of Dreams stores, but SCS offered the banks more cash.
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