Dobbies Garden Centres Group has blamed unseasonable weather and high inflation for its widening losses.
Pre-tax losses for the gardening retailer plunged to £130.8m in the 52 weeks to 5 March, a steep drop from the £21.3m loss the year before.
Sales dropped 8% from £303.6m to £278.7m, which it attributed to the impact of “adverse weather in Spring 2022 exacerbated by the macroeconomic conditions resulting from the Russian invasion of Ukraine, inflation and the cost-of-living crisis”.
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Dobbies, which has 77 stores across the UK, said that trading in the second-half of the year was hit by delayed refinancing of its debt facilities, which involved short-term cash preservation such as discounting of stock and reduced intake that in turn affected product availability.
The group said it has repositioned the business “with an absolute focus on value and has continued to develop a robust and efficient platform to support resilience and future growth”.
Earlier this year, Dobbies named the former chief operating officer at Pets at Home David Robinson as its new chief executive.
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