Fri, 02 Mar 2012 | ADMINISTRATION
Major County Durham dairy, Rock Farm, has called in administrators after suffering difficulties from bad debts and rising costs.
The dairy suspended trading with immediate effect when administrators from PricewaterhouseCooper were appointed, according to the local Journal newspaper.
The company has a turnover of £17 million from its business of processing and bottling milk and other dairy products for distribution across the North East of England.
PwC’s Stephen Oldfield and Ian Green are now looking to find a potential buyer or investor interested in establishing a ‘tolling’ arrangement, which would allow them to use the Rock Farm facilities for a fee payable to the administrator.
“Trading has suffered in recent months and the administration is clearly disappointing news for all of the stakeholders, and employees in particular,” Mr Oldfield said.
“However, we are looking to secure a rapid tolling agreement for Rock Farm Dairy. We are very keen to speak to anyone who might have an interest in such an arrangement.”
According to the administrators, the family-owned company has 88 employees, but had seen a “significant” rise in bad debts from its customers as well as an untenable rise in operating costs.
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.