Dreams founder Mike Clare is understood to have lined up former Dixons Stores chief executive John Clare – who is no relation – to become the group’s chairman once the deal is completed.
Clare told the Sunday Telegraph that no deal had been agreed with Exponet and insisted three potential buyers remained in the frame. Other bidders are thought to include Change Capital Partners and Hg Capital.
“I might decide not to sell at all,” Clare said.
Dreams, which has about 170 stores, last week revealed sales for its year to December 2007 up 27 per cent to just under£200 million, with profits up 88 per cent to£13.3 million.
The beds retailer has also had preliminary talks with overseas partners about opening stores in the Middle East, northern Europe and the republic of Ireland.