An­gus Ce­re­als co-op­er­a­tive forced to ap­point ad­min­is­tra­tors

The Scotsman - - Weather | Farming - By AN­DREW ARBUCKLE

An­gus Ce­re­als, one of the most mod­ern grain han­dling co-op­er­a­tives in the coun­try, en­tered ad­min­is­tra­tion on 12 July with the ap­point­ment of Iain Fraser and Tom Maclen­nan, part­ners at spe­cial­ist busi­ness ad­vi­sory firm FRP Ad­vi­sory LLP, as joint ad­min­is­tra­tors.

An­gus Ce­re­als is a farm­ing co-op­er­a­tive which stores and sells grain on be­half of its mem­bers, and was first op­er­a­tional for the 2011 har­vest. It op­er­ates a 40,000-tonne ca­pac- ity stor­age fa­cil­ity at Mon­trose Har­bour which has been de­vel­oped over the last num­ber of years with around £7 mil­lion be­ing in­vested in the fa­cil­ity.

The So­ci­ety’s 69 mem­bers come from across the East of Scot­land but are mainly based in An­gus, Perth and Fife.

Iain Fraser said: “An­gus Ce­re­als has played an im­por­tant role for the agri­cul­tural com­mu­nity in the East of Scot­land.

“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.”

He said the ad­min­is­tra­tors were now ac­tively seek­ing a buyer for the as­sets at Mon­trose, and were hope­ful that this could be se­cured in time for the 2018 har­vest.

It is un­der­stood the si­los are cur­rently empty and sup­pli­ers have been paid in full for the 2017 crop but they may lose the money paid in mem­ber­ship fees.

In­ter­ested par­ties or sup­pli­ers seek­ing fur­ther in­for­ma­tion should con­tact the FRP Ad­vi­sory LLP Aberdeen of­fice on 0330 055 5455.

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