Anders Holch Povlsen's Wildland empire suffers £4m loss
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Scotland's richest man has seen the company that controls many of his interests north of the border log-up more than £4 million in losses.
It has blamed the pandemic for its worsening finances.
Anders Holch Povlsen is a major shareholder in the online clothing giants Asos and Zalando while also owning the Bestseller group whose brands include Vera Moda and Jack & Jones.
He and wife Anne own about 221,000 acres of land across 13 Highlands estates including in Sutherland – making them also Scotland's largest landowners – which they want to return to “their former magnificent natural state”.
The accounts for Povlsen’s Wildland Ltd said there had been a significant drop in accommodation and woodland activities, leading to a loss for the year to the end of July 2020 of £4.2 million, up from £3.3 million a year earlier.
The accounts said: “The drop in accommodation can be largely attributed to the effects of Covid-19 with all of the properties having to close during lockdown.”
Tim Kirkwood, chief executive of Wildland, the total assets of which are valued at about £165 million, said: “Despite difficult trading circumstances in the past year caused by the pandemic, we have made and continue to make good progress with our core conservation objectives, while continuing to invest strongly in infrastructure and development in our hospitality offering.
“Over time this will put the business in a strong position, we have a great team and we look forward to our margins improving as we emerge from lockdown.”
Mr Povlsen has just announced that he is giving £100,000 to help young people hit hard by the effects of the pandemic in the north -– including to budding entrepreneurs hoping to follow in his wealthy footsteps.
The handouts come after Wildland came to the aid of an independent group of lifesavers in the north by buying them a new lifeboat.
It gave almost £250,000 to purchase and equip the new vessel which has left volunteers at East Sutherland Rescue Association (ESRA) "speechless".
Now Wildland is giving a combined £100,000 to support the business development activities of the Prince’s Trust and Young Enterprise Scotland.
"We know that Covid-19 has taken a severe toll in our communities, particularly among young people whose educations have been disrupted and who have faced – and are still facing – very significant barriers to finding employment," said Mr Kirkwood.
"Even as we look forward to reopening businesses and coming together again following lockdown, we must not forget that many young people will need extra help if they are to feel part of Scotland’s recovery.
"That’s why this year Wildland has chosen to support the work of two nationally-recognised leaders in education support for children and young people, the Prince’s Trust and Young Enterprise Scotland. By funding both organisations to set up new programmes in schools and communities across the north of Scotland, our goal is to increase the range of opportunities for young people to build resilience and reach their full potential.
"We are particularly excited by the potential for aspiring entrepreneurs from remote, fragile communities in the Highlands and Islands to receive this support because a significant portion of delivery can be accessed remotely through online learning.
"Through each of these collaborations, Wildland hopes to develop partnerships that support community resilience, particularly among young people in rural areas who face unique barriers to reaching their full potential in education and employment. We are excited to see how they unfold in the months ahead and wish every young person involved in these programmes all the success in the world."
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