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

Day Spa
Manchester, UK Wide

A very reputable, award winning, day spa offering a selection of rejuvenating treatments is available in the bustling city of Manchester. Offers invited.

Asking Price: £315,000
Turnover: £600,000

LEASEHOLD


Automotive Repair Business
Gloucestershire, UK Wide

This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.

Asking Price: £925,000
Turnover: £414,249

FREEHOLD


CNC Precision Engineering Firm
Isle Of Wight, UK Wide

A remarkable opportunity has emerged to acquire an established precision engineering business which has cemented solid foundations since it began trading in 1998. Offers invited.

Asking Price: £1,200,000
Turnover: £907,946

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
21
 
Apr
 

Cambridge artificial intelligence / machine learning company bought by customer | BUSINESS SALE

Early stage advanced data analysis company Rinocloud has bee...

 
19
 
Apr
 

Accountancy firm to expand in Scotland | BUSINESS SALE

A UK-based accountancy firm with offices peppered across the...

 
18
 
Apr
 

Recruitment firm acquires counterpart | BUSINESS SALE

Swindon-headquartered recruitment company Outsource UK has s...

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