The company blamed the move, which will mean the loss of 70 jobs, on the economic downturn and the end of Low Value Consignment Relief (LVCR) in April.
LVCR allowed VAT to be waived on goods under £15 being imported into the UK. The government’s decision to scrap the tax relief hit a number of horticultural businesses.
Flying Brands closed its growing and live despatch business following the sale of its last remaining retail business - Gardening Direct – to Jersey Choice.
Also, Thompson and Morgan said it was looking at pulling out of Guernsey.