Four jobs at risk at Lincoln branch of beds retailer Dreams on Valentine Retail Park
Jobs could be lost after the Lincoln branch of the bed retailer Dreams was not sold as part of a deal after the company entered administration.
The bed retailer has 266 stores across the UK, employing around 2,000 people.
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A total of 171 of the stores have been sold to a new company controlled by Sun Capital Partners.
But, the Lincoln store, on the Valentine Retail Park, has not been included in the package and four jobs could be put at risk.
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The store will continue to trade while administrators Ernst&Young try to find a buyer.
"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," said Alan Hudson, joint administrator.
"Whilst recent performance has improved, it has seen a decline in like for like sales across its store portfolio as well as its operating margins being squeezed.
"This has resulted in the business being unable to continue to operate outside of administration.
"However, we are pleased to announce that a sale has been completed that sees the majority of the Dreams business being sold to a new company.
"The remaining stores that are not included in the sale will remain open for business whilst the administrators seek to find buyers for these stores."
4 Comments
by Pete67
Friday, March 08 2013, 10:55AM
“bos75 - - - If you haven't noticed there are more than just Lincoln jobs to consider as the shop is part of a chain, and therefore this is a newsworthy item. Still there are plenty jobs about according to IDS and Jeremy Kyle.”
by bos75
Friday, March 08 2013, 2:12AM
“SMorris_LE
I totally disagree, the Echos standards of journalism are very poor.
The Dreams website has contact details to find out information about the store closures. If the Echo staff are too lazy to contact them to find out the details of what will happen to our local store then they should not be publishing unsubstantiated hearsay that they may close. If you do believe this is such an important and newsworthy item to the local population then maybe you should investigate this on behalf of your readership.
Surely one phone call to those in the know would make your article so much more credible. You could actually report the truth rather than a copy and pasted item from elsewhere and add some journalistic content to your articles.”
by SMorris_LE
Thursday, March 07 2013, 10:07AM
“Hi bos75,
Thanks for your feedback.
We believe this to be newsworthy as at the end of the day, it is four local people who are facing losing their jobs. This not only has an impact on them and their families, but it also adds to the strain of the local economy with more people possibly ending up out of work.
Additionally, this store will have served hundreds of local customers who will want to know that the store is under the threat of closure due to the firm's buy-out.
Finally, the fact yet another national chain has hit hard times which has a knock-on impact to Lincoln makes it of interest to a large audience.
Once again, thanks for your feedback.”
by bos75
Thursday, March 07 2013, 2:18AM
“Oh come on. What a shock horror headline - a whole 4 jobs "could" be lost. I'm sure it's devastating news to the 4 facing losing their jobs but is it worthy of a news article.
Step up Echo, this is shocking journalism even for your standards.”