Farminguk
19 October 2017 | Online since 2003


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9 May 2017 14:01:53 |Feed and Forage,Finance,News

Farmers owed money by Wellgrain to get few pence in every pound


Over 100 creditors were owed money following the company entering administration

Over 100 creditors were owed money following the company entering administration

Farmers owed money by Wellgrain will get just 1.4p-6.7p for every pound they are owed by the company following the publication of its administrators’ report.
The recently released administrators’ report, by Grant Thornton, shows at least 155 farmers are among the unsecured creditors owed £5.5m by the merchant, with farm accounts making up more than half of the creditors.
Ely-based merchant Wellgrain went into administration on 2 March.
A number of farmers are among the unsecured creditors and with their future payouts now remaining uncertain.
Some farmers say they stand to lose up to £100,000 following the news.
NFU acting senior legal adviser Lucy Ralph said: “The news that WellGrain Limited has entered administration is extremely worrying, particularly for those NFU members who are owed money by the company.
“We are working to provide guidance to those NFU members who are affected by the administration. They are encouraged to contact NFU Callfirst on 0370 845 8458 as soon as possible.”





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