Administrators cut 32 jobs as search for buyer continues

The administrators of Countrywide Farmers have made 32 redundancies, while the fate of the remaining 700 staff remains uncertain, as they seek to find a buyer for the crisis-hit company.

The company collapsed earlier this month after the Competition and Markets Authority decided to refer its sale of 48 stores to Mole Valley.

The Evesham-headquartered business sells farming, equestrian, harvesting and agricultural supplies.

David Pike, partner at KPMG and joint administrator, said: “Our strategy remains to continue to trade to realise stock, whilst we develop and convert interest in parts of the business and packages of stores. To maximise the available trading period, we have taken steps to reduce costs and regrettably, we are unable to retain the workforce in full. We remain focused on doing all we can to preserve as many jobs as possible.

“There has been a strong response from the market and we encourage any further interested parties to make contact as soon as possible.”

Countrywide Farmers has been restructuring for the last year and had recently completed the sale of its LPG business to DCC Flogas, which resulted in 60 employees transferring.

However the sale of its retail stores to Mole Valley, which was agreed in October, had been held up by competition concerns. The Competition and Markets Authority (CMA) launched a detailed investigation into the proposed deal, believing that it could push up prices or lower quality in 45 areas.

Mole Valley and Countrywide Farmers each run country stores, operating a total of 99 premises primarily located across the South and West of England.

These typically each have a bulk agricultural products supply business – through which they sell large-scale supplies of agricultural products, such as fertiliser or fencing – and a retail business, through which they sell a wide range of products including animal feed, clothing, pet food and gardening tools.