Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Farming co-operative collapses into administration

Farming co-operative collapses into administration

Mon, 16 Jul 2018 | ADMINISTRATION

Angus Cereals Limited, a farming co-operative with farmers across the east of Scotland, has entered administration following a string of financial difficulties, and ahead of this year’s harvest.

Tom MacLennan and Iain Fraser from specialist business advisory firm FRP Advisory LLP have been appointed as joint administrators, and hope to secure a buyer in time for the harvesting season.

The co-operative, founded in 2011, operates a 40,000-tonne storage unit at Montrose Harbour which has received £7 million worth of investment its since inception. The group sells and stores grains for 69 farmers located in Angus, Perthshire and Fife, amongst other counties.

David Fairlie, the former director, remained optimistic and said: “These are good facilities and hopefully by next week we will know more about an alternative operator.”

Angus Cereals’ website states that the company’s goal is to “add value” to members and their businesses through “lower costs and effective marketing”. It further claims that: “By working together and implementing the correct infrastructure, we can vastly reduce costs relating to rejections, double handling, haulage and drying.”

Fraser, who noted that the co-operative was a vital part of the agricultural community in Scotland, said: “Unfortunately, it has not been possible to secure the future viability of the business, and the board has been left with no alternative but to appoint administrators.

“We are now actively seeking a buyer for the assets at Montrose, and are hopeful that this can be secured in time for the 2018 harvest.”

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Supplier Of Artisan Food Products
UK Wide, South West

Supplies handcrafted patisserie products to professional kitchens across the UK. The product range includes, but is not limited to, afternoon tea; chocolate, fruit, warm and multi-portion desserts; appetisers and canapés; and cheesecakes. Has 790 cli...

Asking Price: Offers Invited
Turnover: £769,374

LEASEHOLD


Food Service Business
UK Wide

We are pleased to bring to market our client's food wholesale and distribution business. Products provided include meat, chilled, frozen, fruit & veg as well as ambient goods and some lines of non-food catering essentials.

Asking Price: £325,000
Turnover: £1,000,000

LEASEHOLD


Exceptional Italian Restaurant
London, London, UK

Having been established in October 19 by successful restaurateurs, this quality restaurant provides a great opportunity for new owners to benefit from the excellent fit out, highly desirable location and proven business model. This Italian restaurant...

Asking Price: £850,000
Turnover: £1,040,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

630,000 UK businesses in “significant financial distress”, according to report | BUSINESS NEWS

According to the most recent Red Flag Alert research from Be...

 
21
 
Jan
 

ProCook considering sale as it undertakes strategic review | BUSINESS NEWS

Kitchenware retailer ProCook is to undertake a strategic rev...

 
20
 
Jan
 

Modulaire Group extends UK presence with Carter acquisition | BUSINESS SALE

Modular space leasing business Modulaire Group has announced...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
10
 
Jun
 

Historic Hull electrical engineering firm enters administration | ADMINISTRATION

An electrical engineering company, founded by William Shuttl...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.