A new owner has bought The Garden Trading Company out of administration after it was split from Joules – securing the roles of more than 50 people.
The online furniture and accessories business has been bought by TIM Group Holdings (TGH), which was set up by Yorkshire entrepreneur Tim Whitworth.
Leicestershire-based Joules invested around £12.5 million buying The Garden Trading Company at the start of 2021 to broaden its non-fashion offering. It was founded in 1994, and takes inspiration from both the British countryside and city lifestyle trends, supplying of the world's biggest retailers. It entered administration alongside Joules last month.
Two weeks ago it was announced that Next had teamed up with Joules founder Tom Joule to strike a £34 million deal for Joules which has seen around 100 stores keep trading and secured 1,450 jobs.
TGH is a private equity house that uses independent capital to invest in and partner with businesses.
Its portfolio includes Intelligent Business Partners, property arm TGH Property, business sales platform Bizdaq, digital marketing specialists Audience and Yorkshire Classic & Sports Cars.
Announcing The Garden Trading Company acquisition, Tim Whitworth said 53 jobs had been saved.
He said: “We are delighted to have the opportunity to work with a business with such great history and provenance, along with an unrivalled product range.
“We are extremely impressed by the management team and have great confidence in supporting and investing in their future.”
The Garden Trading Company managing director Laurie Houghton said: “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.”
Ryan Grant and Will Wright from Interpath Advisory were appointed joint administrators to The Garden Trading Company on 16 November.
The retailer was advised by Eversheds Sutherland. TGH was advised by Freeths.
