Around 400 workers at bed retailer Dreams face an uncertain future after it became the latest big name to fall into administration.
A total of 10 staff at outlets in Stirling, Perth and Falkirk are among the 47 Scottish staff facing potential redundancy after it emerged their stores were not amongst the 171 across the UK to be immediately snapped up by a new firm controlled by private equity firm Sun Capital Partners.
In all, 12 Scottish stores will continue to trade while prospective buyers are sought by administrator Ernst & Young, alongside 83 such sites throughout the rest of the UK.
Shops in Dundee and Dunfermline are among 13 Scottish outlets to be bought by Sun Capital, with their nine staff among a total of 55 transferring to the new owners.
Ernst & Young said around 1,600 jobs across Britain had been saved by the sale and transfer, but would not disclose the value of the deal last night.
Sun Capital said it would provide new investment, and honour customer orders where deposits had been made for goods, and customer warranties.
“High street retailers have faced unprecedented conditions over recent years, and the market for higher value discretionary purchases has been particularly tough,” said joint administrator Alan Hudson.
“Dreams is a well-known market leader, but in common with many others has suffered as a result of this depressed retail environment, a rapid expansion of its store portfolio and onerous lease liabilities.
“Whilst recent performance has improved, it has seen a decline in like for like sales across its store portfolio as well as its operating margins being squeezed. This has resulted in the business being unable to continue to operate outside of administration.”
Sun Capital bought Dreams’ two UK manufacturing facilities and head office as part of the deal.