Published on 18 - November - 2010
Wholesale nursery enters administrationWholesale nursery New Forest Garden Plants has entered into administration, resulting in the loss of 40 jobs.
No announcement has been made on the company's website
Administrators Trevor O'Sullivan and Nigel Morrison from Grant Thornton were appointed on November 17, and are now carrying out an analysis of the business with a view to putting it on the market.
Speaking to DIY Week, Mr O'Sullivan confirmed that 40 employees were made redundant yesterday. He added: "We have retained a number of people to help us deal with the office and maintain the plants, so for the time being that's going to stay as it is until we find a way to sell the business."
Mr O'Sullivan explained that the business has struggled to maintain turnover and profitability, and had failed to build up a sufficient surplus to see it through the winter. He added that the business had also acquired a "substantial" number of creditors, meaning "there was no alternative but to file for administration".
The company, based in Hampshire, grows herbs, alpines, bulbs, wild flowers and other seasonal plants, catering mainly to the retail sector.
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