THG CEO to sell firm’s Manchester HQ
A Warrington Council cabinet report revealed that a company named SLBI Propco C Limited is set to buy the business park
THG CEO Matt Moulding is set to sell the group’s £250m headquarters in Manchester, Drapers has reported.
The site was bought by Moulding in 2019 through his private company Moulding Capital and comprises five industrial units and an office.
According to a Warrington Council cabinet report, a company named SLBI Propco C Limited is set to buy the business park.
The report also said that the site is used as a security for a £128m portion of a £202m loan the Council gave to Moulding Capital in 2020. The council is now expected to transfer £128m secured against the site to SLBI Propco C in order for the sale to complete
The news comes as last month, THG reported that its full-year operating losses more than doubled although the company has seen a “significant increase in H1 2023 profitability”.
