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

High-Street & Online Butcher
Scotland, UK

Award-winning retail & wholesale butcher offering a wide range of meat products handmade at its large production facility selling to a loyal local customer base from its high-street shop & online. Offers invited.

Asking Price: Offers Invited
Turnover: £1,993,000

Butchers
Northamptonshire, UK Wide

This long-established business of over 50 years has built up an enviable reputation within this sector of the market for quality and customer service and is award winning and which due to retirement this rare and exciting opportunity has now become a...

Asking Price: £535,000
Turnover: £1,569,695

FREEHOLD


Bakery
Atherstone, Warwickshire, UK Wide

A well established business with an enviable reputation and many existing customers. Prime trading position in the centre of town. All fixtures and fittings included making this a real Turnkey business opportunity. Ideal owner managed or partnership...

Asking Price: £749,995
Turnover: £514,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
11
 
Aug
 

PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE

PPL Corporation has announced that it has put its UK utility...

 
10
 
Aug
 

Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE

Samworth Brothers has completed the £6.4 million acqui...

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

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