THG’s £200m HQ sale falls through
The news also comes after THG reported that its losses had widened 11% to £99.5m in the six months to 30 June 2022
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THG boss Matt Moulding has reportedly seen his plan to offload the business park which hosts the headquarters of THG, which could have been worth up to £200m, has fallen through.
The boss of THG had been in talks with property investor ICG Real Estate of a sale with the property then being leased back to the company.
According to the Financial Times, the two parties were unable to come to an agreement on the terms of the sale.
THG has its headquarters based at Icon Business Park, near Manchester Airport, which is owned by Moulding.
The news of the sale was first mooted in the summer when documents from Warrington Borough Council showed that it had granted permission for ICG to take on a £128m loan.
The loan would have been provided by Moulding Capital and secured against the business park.
The news also comes after THG reported that its losses had widened 11% to £99.5m in the six months to 30 June 2022.
