Mon, 16 Apr 2018 | BUSINESS SALE
A Bedfordshire-based rose growing specialist, Chessum Plants Limited, has fallen into administration and is being sold with the help of Begbies Traynor.
The move follows both the firm’s sister companies, Home and Garden garden centres and Green Moon Plants also going into administration earlier this year.
The administration comes despite the firm reporting increased turnover to GBP11.1m for the year to March 2017, up from around GBP10m the year before. Profit before tax for the most recent trading year was GBP103,000.
The sale terms require the buyer to purchase the business and assets and removal of the assets from the trading premises within a certain period of time. The sale includes bare root rose stock worth GBP360,000, and potted rose stock worth in the region of GBP1.1m.
In addition, the buyer will be purchasing some 20,000 Christmas trees, GBP580,000 worth of roses planted in a field belonging to a third party and the rights to some 41 rose varieties. A plant and machinery is also included in the sale.
Sister business Home and Garden garden centres says its administration is partly due to the fact that the poor weather so far this year has hit trading at garden centres. David White, the firm’s director, told Horticultural Week: "January was ok, February ended up poor and March has been hit by the 'beast from the East' storms and their aftermath."
The business has developed a highly specialised platform that acquires remotely sensed geospatial data from various sources, including satellites, and uses AI-powered analytics to provide customers with actionable insights.
The retirement sale of a very well established manufacturer of industrial paints and coatings, providing a wide range of coating products to a variety of customers.
The imminent sale of a well-established and well respected business, with over 20 years of experience.
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