Night Realisations PLC (02189427): administration
- Status
- Administration ended
- Administration began
- 2013-03-05
- Administrators
- Craig Anthony Lewis, Joseph O'Connor, Alan Michael Hudson
- Administrators' firm
- EY
- Formerly
- Dreams PLC; Dawnspan Limited
- Incorporated
- 1987-11-05
- Location
- London
- Industry
- 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store
Why it went into administration
- Sustained trading losses
- Property / lease costs
- Weak consumer demand
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
From the administrators' statement
Background information on the Company and the circumstances giving rise to the appointment of the Administrators was provided in our initial correspondence sent to all known creditors on 12 March 2013 By way of reference, | include the same information below
Dreams was the number one specialist retailer of beds and associated products in the UK, with an extensive portfoilo of retail stores located throughout the UK it was the market leader with a 23% market share that it had consistently grown Its prominent brand in the retail market was well known by consumers, offering an extensive range of bedroom products
The Company grew rapidly through new store roll-out, opening 137 stores between 2008 and 2011, and maintained resihent revenue performance (FY12A £266m, FY11A £257m, FY10A £256m) in difficult market conditions The business had a large and profitable portfolio of stores, and operated from 266 leasehold stores, employing c2,000 full-time employees
Administrators' statement of proposals (2013-05-17) · Companies House register