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95 Dreams stores set to close

dreams2Some 95 Dreams' stores are expected to close after it was bought by ScS parent Sun European Partners in a £35m pre-pac deal. Ernst & Young, which had been handling the sale process since December, was appointed administrator last night and sold the chain to SEP.

However SEP has only taken 171 branches and Ernst & Young is expected to continue to trade the stores as it looks for a buyer.

The deal ends months of uncertainty over the chain's future after owners Exponent and its banks, led by RBS, were unable to agree on a strategy.