Dreams buys out former franchisee from liquidation

Bed retailer Dreams has acquired a former franchisee out of liquidation.

The three-store business was owned by East Anglia-based Quicknet and traded under the Dreams fascia in Bury St Edmunds, Cambridge and Peterborough.

It was placed into liquidation with business recovery specialist Numerica in November and stores all re-opened by Boxing Day.

The chain is understood to have taken longer than expected to establish profitability at its latest shop in Bury St Edmunds.

Dreams chairman and managing director Mike Clare said: 'Although we cannot take responsibility for the debts of Quicknet Limited, we will see what we can do to help customers who have lost deposits.'