South West grounds maintenance business saved
Business advisory and restructuring specialists at Quantuma have helped rescue an Exeter headquartered grounds maintenance and care business operating across Devon, Cornwall, Somerset and Wiltshire.
Graham Randall and Mark Roach from Quantuma’s Bristol office were appointed joint administrators at Landscaping & Grounds Maintenance Limited on 8 April 2019 after the company hit cash flow problems earlier this year.
Prior to their appointment Quantuma were engaged by the company which trades as Plandscape to look for potential buyers for the business in an accelerated timeframe.
Quantuma approached a number of companies operating in the sector and the business was sold immediately following the administrators appointment in a pre-pack deal to Chic Flower Designs Limited of Green Your Space Group who operate in a number of related industries across the UK.
Graham Randall, a partner at Quantuma, said: “Plandscape has been at the forefront of the grounds maintenance industry in the South West for 30 years with a strong customer base of universities, colleges, NHS Trusts and private sector clients. However in recent times it had encountered cash flow difficulties.”
“We are delighted that Chic Flower Designs Limited was able to active decisively in completing this deal and securing the future of all staff. The business can now look to the future with confidence that it can move forward under new ownership on a more secure financial footing.”