Tue, 03 Sep 2024 | BUSINESS SALE
Administrators have secured a sale of part of a group of Lincolnshire agricultural machinery dealerships. The Burdens Group fell into administration on August 19, having earlier filed a notice of intention to appoint administrators (NOI), with Gareth Rusling and Robert Dymond of Begbies Traynor appointed as joint administrators.
The Boston-headquartered group had outlets across the county, with locations near Lincoln, in North Kyme, Louth and Brigg. It was founded in 1972 and offered a range of tractors and agricultural machinery and spare parts, as well as servicing and repairs, and was one of the main New Holland dealers in Lincolnshire.
However, in accounts for 2022, the company saw its turnover decrease slightly from £25.4 million to £24.9 million, while it fell from a pre-tax profit of approximately £50,000 to a nearly £398,000 loss.
In the report, group directors stated that a positive start to the year had been followed by supply chain issues, an economic downturn for growers following the start of the war in Ukraine, uncertainty over 2023 harvest input costs and rising interest rates.
As a result, it had failed to meet its forecasts during the final third of the year. During the year, the group also pursued cost-saving measures, including the closure of a site in Wragby.
Following the appointment of administrators last month, the group’s South Lincolnshire branches in Sutterton and North Kyme have been acquired by Ernest Doe & Sons. The deal adds to Ernest Doe’s existing network of branches across Essex, Kent, Suffolk, Norfolk, Surrey, Cambridgeshire, Sussex and Hertfordshire.
Ernest Doe Managing Director Angus Doe commented: “Our focus is on maintaining the strong customer relationships cultivated by The Burdens Group, while introducing the high standards of quality and service that have defined Ernest Doe & Sons for over 125 years.”
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