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GARDEN WHOLESALER IN ADMINISTRATION Solus calls in PwC
Worcestershire-based garden products wholesaler, Solus Garden & Leisure has gone into administration threatening the jobs of 250 people.
Rob Hunt and Tony Barrell of PwC have been appointed joint administrators and have said they are hopeful of securing a sale.
Solus had a turnover of £29.3m in the six months to March 30, 2014 and employs around 250 people across its various locations. As well as wholesaling third-party products, the company has a portfolio of well-known brands including: Yeoman, Joseph Bentley, ChapelWood, Garden Nation, Botanico and Bermuda.
PwC said that in late 2013, in the face of difficult trading conditions, the company had sought additional investment to support a turnaround.
Tony Barrell said: “Our immediate priority is to engage with employees, key customers and suppliers with the aim of continuing to trade; which we believe is achievable. We are pleased to confirm that employees will be paid for work done prior to our appointment and whilst they continue to work."
The company has four locations in the West Midlands: Droitwich (employing 90 people), Hunnington (63), West Bromwich (16) and Tipton (3).
Established over 30 years ago, Solus (originally trading as Gibbs Palmer (Midlands) Ltd) went on to establish itself as a leading distributor of garden and leisure goods.
