Sun European Partners in £23m Dreams debt pay-off
Sun European Partners is understood to have repaid £23m to creditors of Dreams, the UK-based bed retailer it acquired in a pre-pack deal in March.
Sun European paid 75p on the £1 to trade creditors and suppliers, according to media reports. Dreams is, however, understood to still be owing £65m in debt to various creditors.
The GP bought Dreams from administrator Ernst & Young in March. The deal, thought to be valued at around £35m, included 171 Dream stores, the firm's head office, its two UK manufacturing facilities and its supply chain network. The remaining 93 stores remained in administration.
Founded in 1985 and based in High Wycombe, Dreams is a bed and mattress retailer. The firm's product offering includes divans, mattresses and bedsteads, alongside furniture products and bedding.
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