Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing
Site Menu
More
User Menu
More
Mention Me
ProSKU
Beetle
IRUK Top500 The Customer Report: 2018

IRUK Top500 The Customer Report: 2018

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

Flying Brands sells off final ecommerce holding

Linked InTwitterFacebookeCard

Flying Brands, the company best-known for its erstwhile Flying Flowers business, has sold its final ecommerce holding, it announced today.

The company said it had sold loss-making Gardening Direct to Jersey Choice Marketing for £2.875m. Gardening Direct had an operating loss of £0.4m in the year to December 30, when its assets were valued at £0.2m. The proceeds, of which £2.25m will be paid in cash on completion, will be used to repay £1m still owed on the acquisition of Flowers Direct, and for working capital.

Flying Brands also said that while it had planned to continue running its growing and live dispatch business it was now in advanced discussions to lease its greenhouses and dispatch centre to Jersey Choice until June 2014. Its strategy would then focus on the use of Retreat Farm, valued this year at £3.3m.

In its results for the year to the end of December, Flying Brands chairman Tim Trotter said it had sold its retail brands following downturns in trading that initially meant it could no longer service its then-debts.

It first sold its gifts business, which included flagship brand Flying Flowers, to Interflora for £2.4m, this April. But the remaining business, it said, was not then viable. Since then it has also sold its Garden Bird Supplies, Garden Centre Online and Listen2 businesses for £0.8m.

Linked InTwitterFacebookeCard

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter