Hardware retailer Robert Dyas has appointed a turnaround specialist, fueling further speculation about the chain's financial stability.
Ian Gray, who refers to himself as a “turnaround specialist” on his website, is helping the retailer with property issues, according to The Telegraph.
Gray is a fellow of the Institute for Turnaround, an independent body for the operational, funding and advisory community.
As reported in this week's Retail Week, Robert Dyas has asked its landlords for rent reductions as it seeks to cut costs across its store portfolio.
Managing director Steve Round told Retail Week that the chain has a “bright future”. However, he did not rule out the possibility of administration if the 105-store retailer could not address its property costs.
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