Robert Dyas jobs at risk as management buyout proposed

More than 1,000 jobs are at risk at retailer Robert Dyas

The future is uncertain for 1,250 staff at the high street hardware chain. Last week it looked as if the chain would go into administration, but according to Robert Dyas executive Ian Gray, senior staff will be staging a management buyout in the next week.

Current owners, private equity group Change Capital Partners (CCP), says the company’s debts mean that it will be the banks, not staff, who take control. The retailer has an estimated £30m of debt.

Speaking to the BBC, Robert Dyas executives said that business at the chain’s 99 stores has been good so far this year, and they had profited from Woolworths’ closure.

Comments are closed.