Following a downturn in both retail and account sales putting pressure on cash flow, Kent Wool Growers Limited (“KWG”) the farmer-owned co-operative founded in 1920, has been placed into administration.
Steve Absolom and Will Wright from KPMG have been appointed as joint administrators.
KWG, which employs 48 staff, offers a wide range of farming services, in addition to owning three retail outlets in Ashford and Eastry in Kent and Handcross, West Sussex. The stores sell farming products ranging from clothing and footwear, to equine supplies, feed, medicines, shotguns and shooting accessories, as well as a fuel brokerage service.
In addition, KWG is an ‘A’ merchant for the British Wool Marketing Board and handles and grades all wool in Kent and East and West Sussex.
Following their appointment, the joint administrators continue to trade the business and assets of KWG, with a view to securing a purchaser for all or parts of the business as a going concern.
Steve Absolom, director and joint administrator at KPMG, commented: “We have received a number of expressions of interest in the business and assets, and so our efforts are focussed on achieving a going concern sale which will secure as many jobs as possible. The stores remain open and KWG continues to support the farming community as best it can in these circumstances.”
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