Laxey has targeted Wyevale's management team again, following the termination of buy-out talks with Gnome Acquisitions last month.
It has called a meeting of shareholders to oust Wyevale chairman David Williams and directors Dianne Thompson and Andrew Lewis-Pratt.
Seymour Pierce retail analyst Richard Ratner said: 'Yet another attempt to decapitate the chairman David Williams. If true, this will be Laxey's fourth go, but only its second EGM.'
Laxey, which has a 27.6 per cent stake in Wyevale, has complained that the garden centre group is failing to maximise its large property portfolio.