Dobbies plans restructuring process
Sky News stated that an insolvency process of some kind is likely if the proposals are not approved by creditors
Dobbies, the UK’s biggest garden centre operator, is reportedly planning a financial overhaul which could result in store closures or steep rent cuts, according to Sky News.
The group, which is controlled by Ares Management, an American investor, is believed to be working with advisers at FTI on a restructuring plan.
However, it is unclear how many of Dobbies’ 77 sites will close and if its 3,700 strong workforce will be impacted.
Sky News stated that an insolvency process of some kind is likely if the proposals are not approved by creditors.
Founded by James Dobbie in 1865, the development of a restructuring plan comes 18 months after Ares took control through a separate reorganisation of its debt.
Ares Management has been contacted for comment.
