Sugar beet firm enters administration

Mon, 16 Oct 2017

Sugar beet handling company M&J Haulage Ltd have had their operations suspended after going into administration.

The Lincoln-based arable crops specialist, which employs 24 workers as well as a number of subcontractors, cultivates its own crops whilst also providing contract farming and haulage services to other clients in the East Midlands.

The business was said to have been struggling with "reduced contract volumes" and subsequent cash flow issues. Growing pressure from creditors and an inability to find further funding as well as a continued shortage of long-term orders meant that a realisation was soon made that the company would not be able to continue.

Chris Pole, partner at KPMG and joint administrator, explained: “The company had recently seen a decline in its order book, which led to significant pressure on its cashflow.

“Over the coming days, we will be assessing options for the business, including the possibility of resuming operations, while we explore a sale of the business and its assets.”

All employees have ceased work while the administrators continue to look at all the options available.

Search businesses in administration
Subscribe to the Business Sale Report


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Businesses for Sale


Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000
Location: 

Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...


Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


View More Businesses for Sale >>