Matt Moulding’s £200m sale of a business park which houses THG’s headquarters has collapsed.
The ecommerce company is a tenant of Icon Business Park, based near Manchester airport, which is owned by Moulding.
The THG boss had been in talks with property investor ICG Real Estate over a possible sale and leaseback deal.
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However, according to The Financial Times, no agreement was reached between the two parties.
News of a possible sale was first reported over the summer when documents by Warrington borough council showed that it had granted permission for ICG to take on a £128m loan provided by Moulding Capital and secured against Icon.
That was part of a £202m loan that the local authority gave to several companies controlled by Moulding in 2020 to partly finance the construction of the business park.
It comes as the group reported its losses had deepened 11% to £99.5m in the six months to 30 June 2022, due to one off costs associated with the sale of its loss-making business.
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