Dobbies to close 17 stores as part of restructuring plans
Dobbies is set to close 17 unprofitable stores, as the garden centre chain unveils restructuring plans.
The chain will shut the doors to 11 mainline sites as well as six Little Dobbies high street stores, leaving the retailer with 60 garden centres.
Dobbies will also work with landlords as it seeks rent reductions at nine of its stores.
The gardening retailer expects the 17 sites to cease trading by the end of the year, subject to the approval of its restructuring plan.
In a statement, the retailer said: “The restructuring plan, and other strategic initiatives, are expected to return Dobbies to sustainable profitability through site rationalisations, rent reductions and other tangible cost savings, securing its long-term future and allowing access to future investment.
“Thereafter, Dobbies will operate 60 stores and continue to play a key role in the market, working constructively with stakeholders and suppliers, and having an active and committed role in the communities in which it’s based.”
The mainline stores set to close are located in:
- Altrincham
- Antrim
- Gloucester
- Gosforth
- Harlestone Heath
- Huntingdon
- Inverness
- King’s Lynn
- Pennine
- Reading
- Stratford-upon-Avon
The Little Dobbies which will be closing are located in:
- Cheltenham
- Chiswick
- Clifton
- Richmond
- Stockbridge
- Westbourne Grove
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.