Leicester administrators clinch deal to save 38 jobs

Warwickshire poultry and agricultural equipment supplier, W. Potter & Sons (Poultry) Limited has been sold out of administration, saving 38 jobs.

Carolynn Best and Martin Buttriss of leading insolvency firm, Begbies Traynor in Leicester, were confirmed as joint administrators to the Rugby business on 4 June.

Following a marketing process prior to Begbies Traynor’s appointment, the joint administrators made a sale to connected parties on the same day, with all 38 employees transferring to the purchaser.

The business, which was established in 1971 as a supplier of poultry and agriculture equipment and pullets, had been experiencing significant cashflow and creditor pressures following the outbreak of the Covid-19 pandemic, suffering a number of order cancellations and muted new sales demand.

Best said: “It is always heartening to see a long-established family firm rescued, especially when a significant number of jobs are at stake. The purchasers have reviewed and updated their sales and marketing strategies and are also considering new product ranges to complement the existing portfolio to allow the business to be more competitive in the marketplace. We look forward to watching their future progress.”

A number of professional advisers acted on the deal, including chartered surveyors, Eddisons Commercial and solicitors, Pinsent Masons in Birmingham.