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

Fine foods & Delicatessen
Helmsley, North Yorkshire, Yorkshire and the Humber, UK

A unique opportunity to acquire an iconic fine food and delicatessen business. Offers invited.

Asking Price: £549,950
Turnover: £974,456

LEASEHOLD


Licensed Restaurant
Leeds, Yorkshire and the Humber, UK

Fully licensed restaurant with 100 covers in Adel, North Leeds. An opportunity to acquire this superb award winning restaurant situated in an enviable trading position in Leeds – a bustling trading site within this extremely upmarket and densely popu...

Asking Price: Offers Invited
Turnover: £480,000

LEASEHOLD


Pizza & Kebab Shop
East London, South East, UK

Fully equipped pizza and kebabs takeaway and delivery. Please note the purchase of this business is subject to entering into a franchise agreement, full details available upon request. Offers invited.

Asking Price: £175,000
Turnover: £528,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
05
 
Mar
 

Independent bathroom retailer enters administration | ADMINISTRATION

Thought to be the UK’s largest independent bathroom re...

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
20
 
Jul
 

Law firm appoints administrators following financial collapse | ADMINISTRATION

A north west law firm has been placed in administration foll...

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