Robert Dyas in Talks
It has emerged that key shareholders of the homewares store Robert Dyas are in talks to decide the fate of the store. It is being considered if the sale of the store would be in its best interests. However it has been confirmed that no sale would take place until next year.
Main shareholders Lloyds and Allied Irish have had discussions with corporate advisory firms including Cavendish Corporate Finance Ltd to see what would be a viable sale process. It is being questioned if a change of ownership would help to build growth. It is thought that this would lead to increased investment and an expansion of the management team.
Geoff Brady, the current chairman of Robert Dyas has commented that the company has performed well over the last year and that sales are up 3% on the previous year. He points out that the brief given to the advisory team is simply to help decide which partner would be best for the company to support further growth.
Robert Dyas currently has 100 stores throughout the south of the UK and had a turnover of £104 million last year. They sell homewares, gardening items and general DIY products.