Lloyds and AIB to sell Robert Dyas?

29 July 2011

Lloyds Banking Group and Allied Irish Banks (AIB) look set to sell high street hardware chain Robert Dyas.

Sky News reports that the two state-controlled lenders - who took charge of the business two years ago - are currently on the lookout for potential suitors.

The news provider noted that people familiar with the matter believe a price tag of around £25 million ($41 million) will be placed on the retailer, which has nearly 100 premises in the UK.

Advisory firm Cavendish Corporate Finance - an organisation founded in 1988 that has advised on around 400 company sales - is likely to oversee the auction, although this is yet to be confirmed.

Robert Dyas - which has a history stretching back to 1872 and a workforce of around 1,000 people - is the latest high street name to come into difficulty following similar scenarios for groups such as HMV and Mothercare.

By Tony Aynsley

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