The move comes after GCG hired PricewaterhouseCoopers (PWC) at the end of last year to look at how much debt the company should have on its balance sheet.
A Lloyds Banking Group representative said:
"The bank is in positive discussions to extend the terms of the debt for the Garden Centre Group. No advisers will be appointed for this process. The Garden Centre Group continues to trade well and has the bank's support."
HE reported like-for-like sales up 20 per cent on last year hitting record-breaking heights this Easter.
Lloyds Banking Group, one of the company's major lenders, effectively owns 51 per cent via HBOS, following a restructuring that took place in 2009.
West Coast Capital and Prestbury, are also shareholders.