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Boutique business advisory practice ReSolve has completed the sale of Scotts Limited to WoolOvers Group.
Scotts is a mail order and e-commerce business operating within the homewares, gifts, health and garden sectors and trades under the names Scotts and Co and Scotts of Stow.
The company operates as a direct-to-consumer multi-channel retailer with e-commerce websites like Amazon and eBay stores, along with mail order catalogues and physical retail stores including its flagship store in Stow-on-the-Wold, Cotswolds.
After operating for over three decades and acquiring a customer database of almost half a million shoppers, ReSolve stated that it became “crucial” to sell the business due to a downturn in financial performance in 2022.
ReSolve was engaged by the company to seek potential buyers. ReSolve said that there was widespread interest from a “significant” number of parties and after a detailed due diligence and negotiation process, WoolOvers
Group made an offer to purchase the entire business and its assets.
Mark Supperstone and Ben Woodthorpe of ReSolve were subsequently appointed as joint administrators and the sale completed out of administration on 9 March 2023, and all 135 employees were transferred to WoolOvers Group.
Supperstone, partner at ReSolve and joint administrator, said: “I am pleased that we have been able to secure the sale of Scotts to WoolOvers Group. Scotts undoubtedly has a great brand and a number of loyal customers, so I am happy that the business can continue to trade and that all staff will find employment with the purchaser. I am confident that its new owners will be excellent stewards of the business and I wish them all the best for the future.”
Mike Lester, WoolOvers Group CEO, added: “It was clear when we did our due diligence on Scotts that it was a high-quality company and was a perfect fit for our business.
“We see excellent potential within the business and now that it is on a more secure financial footing, I’m sure that it will go from strength to strength. It is also extremely gratifying that this sale will protect all 135 jobs at Scotts and I look forward to working with each and every one of them.’’
