THE future of Burton’s Dreams store is today in doubt after it emerged it was not part of a rescue bid that secured the future of more than 150 of its stores.
A solution was found for the majority of the bed retailer’s UK stores soon after it plunged into administration on Wednesday, but staff at Burton’s store in Middleway Park, off Guild Street, have been left facing an uncertain future as one of 95 stores not to be taken over by Sun European Partners.
The store has stopped taking orders, but insisted that orders already placed will be honoured.
Administrators Ernst and Young dismissed reports that stores which had not been bought had been earmarked for closure.
The firm also said no timescale had been set for a buyer to come forward, and that it was actively seeking investment for those which had not been part of the rescue bid.
It leaves the jobs at the Burton store shrouded in uncertainty as staff are made to wait to discover whether a buyer will be found.
Joint administrator Alan Hudson, from Ernst and Young, said: “Dreams is a well-known market leader, but in common with many others has suffered as a result of this depressed retail environment, a rapid expansion of its store portfolio and onerous lease liabilities.
“However, we are pleased to announce that a sale has been completed that sees the majority of the Dreams’ business, including 171 of its stores, its head office and its two UK manufacturing facilities being sold to a new company controlled by Sun Capital Partners.
“The remaining stores that are not included in the sale will remain open for business while the administrators seek to find buyers for them.”