Dreams chief operating officer Greg Suthern has left the business after nine years.
The departure on Friday comes amid a rocky few months for the beds specialist as it seeks a financial restructuring of the business.
The companyâs owner Exponent and its banks are understood to have disagreed on strategy and are now trying to thrash out a deal that could result in a sale or a refinancing of the business, sources have indicated.
Suthern has worked at Dreams since 2003 after a 10-year career at sofa giant DFS. He was seen as chief executive Nick Worthingtonâs right-hand man and has been credited with growing Dreams into a national brand.
Sources told Retail Week Suthern left by mutual agreement. It is not known if he has left with a job to go to.
The 270-store retailer has aggressively expanded in recent years but trading slowed amid the downturn, with EBITDA slumping to ÂŁ11.2m from ÂŁ25.1m in the year to December 24, 2010.
However turnover rose 7% to ÂŁ300m in the period as the retailer took share in a tough big ticket market, and it is understood trading is ahead of budget currently with like-for-likes up in its current financial year.
Dreams declined to comment on Suthernâs departure.
No comments yet