Dreams are over for ex-Woolies boss

Steve Johnson, the former chief executive of Woolworths, has stepped down as chairman of Dreams after less than a year and a half at the embattled beds retailer.

Dreams remains locked in talks with its main lender, Royal Bank of Scotland, about a refinancing to address the 270-store retailer's £32m debt burden and put it on a firmer financial footing. Dreams said: "The business continues to trade well."

The decision of Mr Johnson, who was also chief executive of defunct DIY chain Focus, to quit was partly related to him holding different views on the strategy to other board members.