Leonard Curtis handles agricultural insolvency
NORTH West accountancy firm Leonard Curtis is handling the insolvency of a £10m turnover agricultural firm.
Partner Keith Turpin and director Paul Reeves from the Bury-based firm have been appointed joint administrators of Avoncrop, one of the largest producers, wholesalers and distributors of horticultural products in the UK.
Avoncrop. which has more than 50 staff, has its head office in Sandford, Somerset and has depots in Berkshire and Lincolnshire.
Mr Reeves said the business would continue to trade while a buyer is sought. He blamed the insolvency on a “failed diversification into a related venture”.
Meanwhile Paul Stringer and Charles Cooper of Cowgill Holloway’s Manchester corporate finance team advised on the acquisition via a pre-pack administration of Europackaging, a £140m turnover Birmingham business which makes carrier bags and packaging for many of the high street supermarket chains.
The business which was placed into administration on September 4 was bought soon after by Middle East investors, Afzal Majid Alimahomed and Shabir Majid Alimahomed for an undisclosed sum.
