Angus Cereals Ltd enters administration following financial difficulties

Angus Cereals has played an important role for the agricultural community in the east of Scotland
Angus Cereals has played an important role for the agricultural community in the east of Scotland

A major farming cooperative which stores and sells grain on behalf of its 69 members from across the east of Scotland has entered administration.

Angus Cereals Limited entered administration last week following financial difficulties.

The co-op, founded in 2011, operates a 40,000-tonne capacity storage facility at Montrose Harbour which has been developed over the last number of years through a £7m investment.

Iain Fraser and Tom MacLennan of specialist business advisory firm FRP Advisory LLP were appointed joint administrators.

Mr Fraser commented: “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.

“We are now actively seeking a buyer for the assets at Montrose, and are hopeful that this can be secured in time for the 2018 harvest.”

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