Home and garden furniture, lighting and homewares business The Garden Trading Company, a subsidiary of Joules, has been sold out of administration.
Ryan Grant and Will Wright, both from Interpath Advisory, were appointed as joint administrators to The Garden Trading Company on 16 November 2022.
The business has now been sold to Yorkshire private equity firm TIM Group Holdings (TGH), with all 53 jobs being saved.
In a statement, administrators 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.”
Laurie Houghton, managing director of The Garden Trading Company, added: “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.”
TGH also commented: “We are extremely impressed by the management team and have great confidence in supporting and investing in their future.”
The Garden Trading Company was advised by Eversheds Sutherland, while TGH was advised by Freeths.
The Joules brand and assets were acquired by fashion and homewares retailer Next following its administration. Read more here.