Sugar beet firm enters administration

Mon, 16 Oct 2017 | ADMINISTRATION

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


Share this article



Latest Businesses for Sale

Accountancy & Financial Sectors Recruitment Agency
UK Wide

Offers permanent and temporary placements to candidates operating within the accountancy and financial sectors. Maintains long-term relationships with its clients, acting as a trusted advisor to provide impartial and effective support throughout the...

Asking Price: Offers Invited
Turnover: £1,300,000

LEASEHOLD


BEMS, ICT & Building Consultancy
South of England, UK Wide

Provides a comprehensive consultancy service within the building industry. Works with major BEMS systems manufacturers and suppliers and has extensive in-house knowledge. Offers invited.

Asking Price: Offers Invited
Turnover: £656,000

LEASEHOLD


Medical Imaging Software Solutions for Healthcare, Veterinary & Life Science Sectors
UK Wide

Strong second-tier management team in place, able to manage the day-today operations of the business. Serves 200 active clients in the healthcare, veterinary and life science sectors - with some long-standing client relationships in place since incep...

Asking Price: Offers Invited
Turnover: £640,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
13
 
Dec
 

Gateley acquires T-three | BUSINESS SALE

Commercial law and professional services firm Gateley has ac...

 
12
 
Dec
 

Appello acquires Mevivo Careline | BUSINESS SALE

Living solutions provider Appello has acquired telecare and ...

 
11
 
Dec
 

PiggyBank owner enters administration | ADMINISTRATION

DJS Limited, the parent company of payday lender PiggyBank, ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
09
 
Dec
 

Scunthorpe construction group call in administrators | ADMINISTRATION

Scunthorpe-based Clugston Group and Clugston Construction ha...

 
06
 
Dec
 

KPMG agrees to sell pensions arm | DIVISION SALE

Professional services network KPMG has announced that it has...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

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