Beds retailer Dreams is close to refinancing, with advisers to its banks due to make presentations on the management’s strategic plans this week.
RBS, the 270-store retailer’s main lender, instructed Grant Thornton and Pragma Consulting to conduct due diligence on the business plan of Dreams chief executive Nick Worthington and chairman Steve Johnson, according to the Independent on Sunday.
The retailer’s banks are thought to be striving to achieve a more appropriate debt structure for the big ticket retailer that has seen profits fall in the tough trading conditions.
According to the newspaper, trading in recent weeks is supposed to have picked up and banks are said to be relatively relaxed about the situation.
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