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Robert Dyas employs turnaround expert

Hardware chain Robert Dyas has called in a business turnaround specialist, fuelling rumours that the retailer is encountering financial problems.

The company has employed Ian Gray, whose company majors on helping businesses in trouble. However, unconfirmed reports say that Robert Dyas is consulting Gray on matters concerning property.

According to The Daily Telegraph the chain is talking to landlords about changing rent payments to a monthly rather than quarterly basis.

Robert Dyas, which sells products from cookware and kitchenware to power tools and office equipment, runs 105 stores and an e-commerce website. A plan to expand the chain to 150 outlets when it was bought by private equity firm Change Capital Partners in 2004 was later scaled back to 120.

20 March 2009
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