Administrators appointed to Countrywide Farmers Plc | KPMG | UK

Administrators appointed to Countrywide Farmers Plc

Administrators appointed to Countrywide Farmers Plc

David Pike, Mark Orton and Will Wright from KPMG’s Restructuring practice have been appointed joint administrators to Countrywide Farmers Plc.

1000

Also on KPMG.com

David Pike, Mark Orton and Will Wright from KPMG’s Restructuring practice have been appointed joint administrators to Countrywide Farmers Plc.

 

The company, which employs approximately 735 people, is headquartered in Evesham, Worcestershire, and operates 48 retail stores across England and Wales selling a range of farming, equestrian, harvesting and agricultural supplies to consumers. It also has a distribution centre in Defford. No initial redundancies have been made as a result of the administration.

 

Over the last 12 months, the company has been exploring its restructuring options, including the sale of its retail and LPG (liquefied petroleum gas) divisions. The sale of the LPG business was successfully completed on 1 March 2018 and over 60 employees were transferred to DCC Flogas.

 

The company had also identified a purchaser for the retail business, but this was subject to Competition and Markets Authority (CMA) clearance. On 6 March 2018 the CMA announced its intention to refer the process to an in-depth phase 2 investigation.

 

David Pike, partner at KPMG and joint administrator, commented: “Following the recent CMA announcement, the proposed retail transaction cannot proceed. Unfortunately, given the significant trading difficulties and cash flow pressures, this has led the directors to consider their options and take the difficult decision to place the company into administration. 

 

“It is our intention to seek a purchaser for the business in whole or part and we have appointed Hilco Capital to assist in running the stores whilst we explore and develop available options. We encourage anyone who has an interest to contact us immediately.”

 

Interested parties are advised to contact the joint administrators via Gareth Shaw on 0121 232 3288.

-Ends-

Notes to Editors:

For media enquiries only, please contact:

Jo Chileshe, Assistant PR Manager

T: 0121 232 3343

M: 07919 211803

E: jo.chileshe@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

 

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss
entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

Jo Chileshe

Assistant Manager, Corporate Communications

 

KPMGLLP
                                                                  


One Snow Hill, Snow Hill Queensway                                                                 


Birmingham, B4 6GH                                                                            


 

T: +44 (0)121 232 3343                         
                       


M: +44 (0)7919 211 803

 

jo.chileshe@kpmg.co.uk

kpmg.com/uk

Connect with us

 

Request for proposal

 

Submit