Wyevale Garden Centres plans refinancing ahead of filing accounts

Wyevale Garden Centres is planning a refinancing deal with Hayfin/Barclays ahead of posting accounts.

The company would have normally have posted results by 30 June under Walker guidance, though they have until 30 September to file at Companies House.

KPMG are new auditors and Wyevale say "the accounts are currently being finalised". They may be published by the end of August and will detail a new strategy led by the refinancing, which is planned to be promoted when the accounts are released.

Wyevale is aiming for a £34m EBITDA but it is understood trading has not met targets and Wyevale is striving to make adjustments to reach the EBITDA target.  The company is hoping to avoid headlines of a £100m loss by focussing on the refinancing when the results are released. The company cost Terra Firma £276m in 2012. A re-evaluation could put it at nearer £200m.

The company would not comment.


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