Smart Garden Products pull Briers out of administration
Published: 7 February 2019 - Kiran Grewal
Smart Garden Products have announced the purchase of the Briers business and assets from administrators Duff & Phelps.
"The business was short of cashflow and their directors were trying to find a buyer for some months without success, eventually placing the company in administration. We came in at the end of this process with an acceptable offer and managed to complete very quickly, within days in fact. It was all very quick!" said Paris Natar, Smart's Chairman.
"The timing could be better with the season upon us and Chinese New Year holiday factory closures" added MD Jonathan Stobart.
"Fortunately there is some stock that has recently arrived at UK ports and even more in transit, in addition to that already in the Briers warehouse. So we are now bringing that in and arranging for early shipment of other goods already on order, mostly made, as soon as the factories re-open in the second half of February. Not where we would like to be with this, but also not irrecoverable by any means."
Mr Natar added: We are determined to restore normal and full supply of this fantastic range and brand to our retail partners as soon as practically possible, doing whatever it takes. We will be supplying Smart Standards and Smart Service Levels. This is a brilliant opportunity for Smart Garden Products and we intend to make the most of it."