A Yorkshire entrepreneur has rescued The Garden Trading Company (a subsidiary of Market Harborough-based Joules Group PLC) from administration, saving all 53 jobs.
Under the undisclosed deal, TIM Group Holdings (TGH) will work with the current management team to continue to deliver “exceptional quality” home and garden products.
TGH, founded by Yorkshire entrepreneur Tim Whitworth, is a private equity house that uses independent capital to invest in and partner with businesses of varying sizes.
Tim Whitworth, managing partner, said: “We are delighted to have the opportunity to work with a business with such great history and provenance, along with an unrivalled product range. We are extremely impressed by the management team and have great confidence in supporting and investing in their future.”
Ryan Grant and Will Wright from Interpath Advisory were appointed joint administrators to The Garden Trading Company on 16 November 2022.
Founded in 1994, The Garden Trading Company takes inspiration from both the British countryside and city lifestyle trends to develop products for consumers and some of the world’s leading retailers.
Laurie Houghton, Managing Director of The Garden Trading Company, said: “I’m delighted that TIM Group Holdings shares our vision and commitment to both our customers and our team to support our ambitious plans in growing both the brand and product range in the future.”
Ryan Grant, Managing Director at Interpath Advisory and joint administrator, said: “The Garden Trading Company had grown rapidly to become a leading retailer of distinctive garden and homewares, so we’re pleased to have achieved this outcome which ensures the business will continue to trade, and which safeguards over 50 jobs. We wish the management team and TGH all the very best for the future.”
The Garden Trading Company was advised on the legal aspects of the deal by Eversheds Sutherland. The buyer, TGH was advised by Freeths LLP.
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