A GARDEN centre business with a branch just outside of Carlisle is working on a 'restructuring plan'.
According to Sky News, Dobbies Garden Centres, which is controlled by the major American investor Ares Management, is working with advisers on a 'restructuring plan' which could lead the way for closures throughout the garden centre retailer.
Restructuring may involve cost-cutting measures or selling assets, potentially leading to the shuttering of underperforming shops.
Currently, the UK garden centre chain has a site at Orton Grange.
Sky News explains that if creditors do not approve the proposals, an “insolvency process of some kind is likely”.
Dobbies currently has 77 branches throughout the UK and currently employs around 3,900 people.
However, no specific information about potential closures or job impacts has been provided.
Exclusive: Dobbies Garden Centres, which is owned by the investment group Ares Management and employs about 3,700 people, has hired FTI Consulting to work on a restructuring plan that could pave the way for store closures and rent cuts. https://t.co/1RQFCOSJAJ
— Mark Kleinman (@MarkKleinmanSky) August 29, 2024
According to the report, FTI Consulting has been drafted in to work on the restructuring process.
Ares Management acquired Dobbies Garden Centres in February 2023.
Previously, the garden centre chain was owned by Midlothian Capital Partners and also Tesco.
Dobbies was approached for comment.
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