Garden centre set for growth after rescue deal saves jobs
A North East garden centre has been saved from closure by a former employee thanks to funding secured through Baldwins and HSBC UK.
With support from national business advisory firm Baldwins, owner of Scarr Holdings Ltd Richard Scarr was able to purchase Paddock Farm garden centre in Dalton on Tees near Croft in a sealed bid deal with funding secured through HSBC UK.
Owner of Scarr Holdings Ltd and former Paddock Farm employee Richard explained: “Having worked at the centre for so long, I knew it inside out and was determined to keep it alive. Coming to Baldwins, I knew the business’ best interests were top priority and they kept me updated every step of the way.”
As a result of the deal, which was completed in just six weeks, Paddock Farm has been able to reopen and six staff members have remained in employment after the closure threatened their jobs.
Director of banking and finance at Baldwins’ Portobello office, Phil Empson, said: “We were working to a very short timeframe of only six weeks, so we worked closely with all parties to ensure the deal was not lost, the funding was secured, and livelihoods were saved.
“As a team, we were passionate about saving Paddock Farm and helping Richard to achieve his dream.”
Craig Jiggins, business relationship manager at HSBC UK, added: “It’s always challenging working to short timescales, however we wanted to do everything we could to ensure this business could continue to trade.
“Seeing the deal come together was exciting and we’re looking forward to seeing the business thrive and grow into the future.”
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