Wyevale Garden Centres has sold five more of its stores as it continues plans to cut back its retail portfolio as part of a turnaround plan.
A Wyevale spokesperson told Retail Sector: “In accordance with TUPE regulations colleagues are now being consulted with on the transfer of their employment to the buyer.”
Four of its stores, located in West Parley, Salisbury, Fair Oak and Landford have been sold to discount retail brand In-Excess UK. The other sale sees the group’s Hereford Wellington centre sold to architectural salvage retailer, English Salvage Limited.
The spokesperson added: “We are selling them to businesses that both want to run them as garden centres, and will want to keep on our great people to help them achieve that.”
The sales see the total number of stores sold by the retailer since May, rise to 35, after the company announced an investment scheme which saw the company return to profit. The store sales saw the retailer’s gardening rivals Dobbies acquire at least six of Wyevale’s sites. The group also said it had received significant offers for the rest of the business.
Wyevale CEO Roger Mclaughlan said: “We are pleased to have agreed the sale of a further five centres. We would like to thank our great colleagues at these centres, who have been central to our turnaround in the past few years, and wish them well for the next stage of their growth and development under new ownership.”
The garden centre chain’s chief financial officer, Anthony Jones, added: “Since the launch of the sale process in May we have now sold 35 ‘non-core’ centres and are currently evaluating a wide range of competitive offers from the group buyers, regional operators and local entrepreneurs. We look forward to further positive discussions with all potential buyers.’