Figures reveal the factors behind New Forest Garden Plants' failure

Exchange rate problems were partly to blame for New Forest Garden Plants going into administration, newly issued figures reveal.

The herb, alpine, perennial, wild flower and imported plant nursery went into administration last week with accountants Grant Thornton in Southampton (HW, 26 November).

Quinton Edwards is marketing the freehold of the 10.97ha site in Beaulieu, Hampshire.

Sales particulars show that turnover fell from £3.68m in 2007 to £3.07m in 2008, before rising to £3.22m in 2009 and £3.37m for the first 10 months of 2010.

Net profits were at £111,221 in 2007 and a loss of £98,776 in 2008. This recovered to a £85,702 profit in 2009. The 2008 decline was explained as being due to weather coupled with exchange rate problems, which caused "a substantial strain on cash flow".The business carries £1m of stock.

Last week, employees said the company had gone into administration because HSBC refused to extend its overdraft.


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Read These Next

Horticulture careers - plugging the skills gap

Horticulture careers - plugging the skills gap

Bespoke apprenticeships and internal training are helping firms to get ahead in skills-shortage horticulture, says Rachel Anderson.

Tractors: market roundup

Tractors: market roundup

Manufacturers are working to provide solutions to many challenges. Sally Drury looks at their newest models.

Aster

Aster

Brightening up gardens in autumn, these daisies are seen as a gem in the gardener's arsenal, writes Miranda Kimberley.


Opinion... Why no-deal Brexit should worry you

Opinion... Why no-deal Brexit should worry you

Whether you voted leave or remain all those years ago, a "no-deal" Brexit should worry you.

I will not be importing oaks this season. Will you?

I will not be importing oaks this season. Will you?

I find myself in a difficult situation. A few weeks ago I was fortunate to be present to hear details of imminent changes to regulations concerning Oak Processionary Moth (OPM) and oak trees. I heard details, asked questions and probed the implications of these changes. That may not sound like a difficult position to be in, yet I am uneasy.

Opinion... Better targets to tackle pollution

Opinion... Better targets to tackle pollution

Lobby groups jumping onto fashionable campaigns, often to promote their own interests, can do much more harm than good. Take, for example, the move against black polythene plant pots and containers.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

HORTICULTURE WEEK BUSINESS Awards 2019

The Horticulture Week Business Awards is now open for entries

Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 60 Ornamentals nurseries

See our exclusive RANKING of ornamentals nurseries by annual turnover plus the FULL REPORT AND ANALYSIS

Tim Edwards

Boningales Nursery chairman Tim Edwards on the business of ornamentals production
 

Read Tim Edwards

Pest & Disease Tracker bulletin 

The latest pest and disease alerts, how to treat them, plus EAMU updates, sent direct to your inbox.

Sign up here

Are you a landscape supplier?

Horticulture Week Landscape Project Leads

If so, you should be receiving our new service for Horticulture Week subscribers delivering landscape project leads from live, approved, planning applications across the UK.

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles