Rural supplies firm Countrywide puts all its shops up for sale

Wed, 10 May 2017 | DIVISION SALE

Countrywide, the supplier of equestrian and farming supplies, has put its remaining 53 stores up for sale as it looks to hive off its retail division.

In a financial update the firm said “disappointing” trading performance and a period of “considerable change and transition” had led to its decision. The company reported losses of £9.9 million last year, following losses of £8.2 million in 2015.

The company, established in 1902 as Bedford Flowers, already closed 14 stores earlier this year in an effort to improve profitability and will now sell the remainder of its retail estate. PricewaterhouseCoopers has been appointed to explore the sale.

The board said it took the decision in order to prioritise the opportunities that would deliver the greatest returns.

Countrywide will instead focus on its two other business units - Rural Energy, which supplies energy products to rural homes and businesses, and Turf and Amenity, which supplies turf, fertiliser and other products to golf courses and sports grounds.

“Further to the confirmation of 14 retail store closures in February, which formed an important part of re-positioning the retail business for profitable growth in the future, the board continues to review the strategic direction and profitability of the company as a whole,” Countrywide said.

“It is clear to the board that the retail environment remains challenging and that to compete effectively for the long-term will require further rationalisation of the cost base along with potential further investment.

"With the operational challenges outlined above, three business units all requiring investment, together with a legacy pension scheme to fund, the board has to prioritise the opportunities that will deliver the greatest returns.”

The company added that it had recently had “positive discussions” with its bank and had secured funding facilities that would support the requirements of the business for “the foreseeable future”.

Find retail businesses for sale.

Subscribe to the Business Sale Report.


Share this article



Latest Businesses for Sale

Face-to-Face Fundraising Agency
London, South East, UK

A leading face to face fundraising agency providing high quality private site campaigns. Long established company operating over 10 years. Operates from leasehold premises in London. Offers invited.

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD


Unique Multi Faceted Business
West Sussex, UK Wide

Multi-faceted business opportunity developed by our clients in 2014 and now offered for sale due to the directors other business ventures. Owners have firmly planted the venue for live music particularly live jazz, blues, funk and soul. Any new buyer...

Asking Price: £299,950
Turnover: £768,916

LEASEHOLD


Pet Accessory & Health Food Retailer
Colne, Lancashire, UK Wide

Acorn's Healthy Option Pet Food Store. The shop is extremely well established and very well presented with a fantastic reputation; due to the good service and quality products the shop provides. Business has a lot of repeat customers, as well as the...

Asking Price: £249,999
Turnover: £606,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Dec
 

High street clothing chain enters administration | ADMINISTRATION

A prominent high street clothing chain has collapsed into ad...

 
15
 
Dec
 

Two pub companies enter administration | ADMINISTRATION

Mitchell’s of Lancaster (Brewers) Limited and York Bre...

 
13
 
Dec
 

Harvard Technology Limited enters administration | ADMINISTRATION

A lighting company based in Normanton has been forced to eng...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
20
 
Feb
 

Electronics specialist Maplin searches for buyer | BUSINESS SALE

Electronics retailer Maplin is reportedly in crisis talks wi...

 
23
 
Mar
 

Shoe retailer Brantano in administration, sale sought | ADMINISTRATION

The shoe retailer Brantano has collapsed into administration...

 
16
 
Dec
 

Countrywide considering sale of commercial property business | BUSINESS SALE

The UK’s largest estate agent, Countrywide, is conside...

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