A Worcestershire-based garden and leisure product wholesaler has entered administration.
Solus Garden and Leisure Limited entered administration after the company was unable to find supporting investment for a turnaround, leading to financial difficulties.
Rob Hunt and Tony Barrell of PwC were appointed as joint administrators to the company on 15 May.
Solus Garden and Leisure employs approximately 250 staff, recorded turnover of £29.3m in the six months to 30 March 2014, and is the owner of a range of gardening product brands.
Administrators confirmed there was “substantial interest” after marketing the business for sale, but did not receive an offer that would have saved the company from administration.
Barrell, director at PwC, said: “Our immediate priority is to engage with employees, key customers and suppliers with the aim of continuing to trade, which we believe is achievable.
“We are pleased to confirm that employees will be paid for work done prior to our appointment and while they continue to work.
“We are hopeful of securing a sale and there are already a number of parties interested in purchasing the business.”