Dreams deal saves Wirral jobs (From Wirral Globe)

Dreams deal saves Wirral jobs

2:49pm Wednesday 6th March 2013 in News

WIRRAL jobs are among those saved today by a takeover of Dreams, Britain's biggest beds retailer.

The company, with a store on the Bromborough Croft retail park, has fallen into administration with the loss nationally of 400 jobs.

Just over 90 of its shops will be closed.

But the remaining 171 and 1,675 jobs are being saved following a £35m deal with the owners of rival bed and sofa firm ScS.

A company spokesman said the Wirral store is among those taken over by ScS.

Administrators said Sun Capital Partners, which already owns the SCS Upholstery chain, will honour warranties.

Orders where part-payment deposits have been made for goods will also be met.

Meanwhile Thomas Cook, the world's oldest travel firm, is cutting 2,500 British jobs and closing 195 of its high street travel agencies.

Staff at its Birkenhead town centre shop are reportedly due to find out more information on their futures today, although no official announcement about local stores will be made until tomorrow.

A statement from the firm said “As Thomas Cook UK & Ireland continues to focus on the turnaround of the business it has today entered a 90-day consultation process with a number of its UK employees on the next phase of the three-year programme to transform its operations.”

Peter Fankhauser, Thomas Cook UK & Ireland’s chief executive, said: "It is never easy to make decisions that impact directly on our people, but we also owe it to our customers to shape the business effectively and ensure that, when they book their holiday with us, our administrative costs are as low as possible.

"It is essential that we operate with the right number of people as we move forward into the next era for our company, allowing us to meet the future needs of our customers more effectively."

Dreams' administrators, accounting firm Ernst & Young, said the brand 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.

“High street retailers have faced unprecedented conditions over recent years and the market for higher value discretionary purchases has been particularly tough.”