Wyevale Calms Fears of Administration

There is a strong swell of opinion within the industry that the Wyevale rump will end up in administration.  This is causing suppliers to be cautious.

At the RHS Chelsea Flower Show (20th May) the team at the garden centre group's owner, Terra Firma, made their view clear they that this would not be the case.

Due to various legal issues to be resolved, it indicated that the sale process might take the rest of the year to complete.  But there would be no administration as there would be enough assets remaining so that the shares would still have a value once the sale has been completed.

Terra Firma confirmed this with the following statement, “The sales process of Wyevale is ongoing and we expect there to be substantial value to the equity by the end of the year.”

Further sales

57 of the original 145 garden centres remaining to be sold. 

A number of parties have indicated to Gardenforum that they are in negotiations with Terra Firma, so more sales can be expected in coming months.

Source : Reproduced with kind permission from Gardenforum (www.gardenforum.co.uk/headlines/wyevale-calms-fears-of-administration/)

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