Wyevale Garden Centres has been put up for sale by its owner Terra Firma following huge investment in its turnaround strategy.
The garden retailer, which reported a £105.5 million operating loss in its latest published set of results, is reportedly on track to see its best ever May thanks to a turnaround effort which, according to chief executive Roger Mclaughlan, has transformed the retailer “beyond recognition”.
Specialist business property advisors Christie & Co have been drafted in to handle the sales process, which will see all of Wyevale’s 145 garden centres including 144 restaurants, 700 concessions be sold.
“The improvements made by the new leadership team at Wyevale Garden Centres supported by 6000 dedicated colleagues, means that now is the right time to seek new, long term ownership for the business,” Terra Firma’s vice president Justin King said.
Mclaughlan added: “Wyevale Garden Centres has transformed beyond recognition over the last few years, and our customers are responding really positively to all the improvements we’ve been making, with improved ranges, high stock availability and exceptional garden centre standards.
“Our improved business has engaged colleagues and put customers at the heart of what we do. Thanks to the hard work of all of our colleagues, we remain firmly on track to grow our sales and profits this year.”
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