Dobbies closing 12 stores as part of restructuring plan
Dobbies has confirmed that it will be closing 12 stores after the garden centre chain’s restructuring plan was approved by the Court of Session in Scotland.
The chain will now exit the leases of 10 loss-making sites, whilst its stores in Morpeth and Stapleton will be moved to other garden centre operators.
Dobbies’ flagship store in Antrim – which was originally set to close – will now remain open following an agreement with the store’s landlord.
This comes after Dobbies said that it would be closing 17 unprofitable sites before the end of the year, subject to the approval of the restructuring plan. This would leave Dobbies with 60 stores.
A spokesperson for Dobbies said: “We’re pleased to have worked constructively with landlords on the restructuring plan (RP).
“The approval of the RP means we can now be focused on the future, building a strong platform for a return to sustainable profitability in our stores across the UK. Thank you to all our colleagues, customers and suppliers who supported us during this process.”
Dobbies will now exit the leases at its stores located in Altrincham, Gloucester, Gosforth, Harlestone Heath, Huntingdon, Inverness, King’s Lynn, Pennine, Reading, and Stratford-upon-Avon.
In August, it was reported that Dobbies was working with FTI on the restructuring plan to slash rents and close stores.
Dobbies was previously owned by private equity investor Midlothian Capital Partners, before Ares Management took control of the retailer through a reorganisation of its debt.
Prior to that, the retailer was under Tesco’s ownership for almost a decade.