New Rathwood investor committed to recovery and growth
The new external investor in garden centre and outdoor furniture retailer Rathwood has said it is committed to supporting the long-term recovery and future growth of the company.
A new investor is backing the recovery and future growth of Rathwood, a garden centre and outdoor furniture retailer. Last Friday, the High Court confirmed a restructuring plan that will see a €750,000 investment by Evergreen Home and Garden Holdings. This investment allows Rathwood to exit examinership, which it entered in April.
The company, which employs around 100 people near Tullow on the Carlow-Wicklow border, was unable to process refunds to customers who placed orders that were never delivered. Evergreen Home and Garden Holdings, an Irish-incorporated investment vehicle, is privately funded by a group of Irish investors led by Kevin Nolan of KJ Nolan Ltd. The investment aims to stabilise the business in the first twelve to eighteen months, followed by growth through developing online platforms and investing in the Rathwood site.
The restructured business will then be consolidated to position Rathwood as a platform for growth in the Irish garden centre sector. Mr Nolan, CEO of Evergreen Home and Garden Holdings, expressed confidence in Rathwood's future and commitment to working with the management, employees, suppliers, and all stakeholders to secure that future.
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