Business
Disposal of Restore Harrow Green
Restore PLC has divested its Harrow Green business to Bouverie Holdings Ltd for £5.5m, with £2.0m contingent on FY26 performance. Harrow Green, which is expected to generate approximately £30m in revenue and £0.3m in adjusted operating profit for 2025, has become non-core to Restore. The disposal is anticipated to result in a non-cash loss of £3m and additional cash costs of £2m, with net proceeds used to reduce debt and reinvest in Restore's core operations. Disclaimer*
About this update from Restore Plc
[{"type":"text","content":"\n\n9 December 2025 \n \nRestore plc\n(\"Restore\" or the \"Group\" or the \"Company\")\n \nDisposal of Restore Harrow Green\n \nRestore today announces the disposal of Restore Harrow Green (\"Harrow Green\") to Bouverie Holdings Ltd, a company owned by the same shareholders as the parent company of Pickfords Move Management Ltd (trading as \"Pickfords\"), for a cash consideration of £5.5m of which £2.0m is contingent on FY26 performance. \nHarrow Green is the UK's leading commercial relocation company, supporting corporate and public sector clients with complex workspace moves. Harrow Green is expected to deliver 2025 full year revenue and adjusted operating profit of c.£30m (2024: £35.3m) and c.£0.3m (2024: £1.9m) respectively, representing a significant year-on-year reduction. Against this background, the Board undertook a strategic review of options for the business and concluded that it had become increasingly non-core for the Group, with limited commercial benefits from being part of Restore.\nHarrow Green is a strong strategic fit with Pickfords, the UK market leader in domestic relocations, which will benefit from revenue and property synergies as it transitions to a number of shared sites. As part of the sale, Harrow Green will exit its operational and head office site in Silvertown, London. \nThe disposal has now completed and accordingly Harrow Green will be treated as a discontinued operation in the Group's 2025 accounts and will not contribute to continuing adjusted operating profit for the year ending 31 December 2025. It is expected that the disposal will result in a non-cash loss of c.£3m. There will be additional cash costs of c.£2m, primarily relating to the exit of Silvertown together with deal related costs.\nThe net sale proceeds will be used to pay down the Group's debt facility, with a view to recycling the capital into Restore's core business areas over the short to medium term.\n \nCharles Skinner, CEO, commented:\n\"Whilst Harrow Green is a well-run business with a blue-chip custo...