70 jobs saved at livestock auction specailist

UP to 70 jobs at a Borders livestock auction business have been saved.

Established in 1926, the business of Cumberland and Dumfriesshire Farmers Marts  has been sold by the joint administrators, Russell Cash and Ben Woolrych, partners with FRP Advisory LLP.  

The purchasers are C & D Auction Marts Ltd and one of Scotland`s oldest auction firms, Thomson, Roddick & Laurie Ltd.

The deal, which is for an undisclosed sum, sees the trading business and certain assets of C&D transfer to auction businesses backed by the Thomson family who commenced auctioneering as far back as 1880 in the towns of Annan and Dumfries and who have other cross-border auctioneering and farming interests.

C&D has operated livestock auctioneering marts at Longtown, near Carlisle and in Dumfries. Longtown is Europe’s largest sheep market and the company also provides professional land and estate agency and valuation and survey services through C & D Rural which is also part of the deal.

The sale secures the jobs of all 70 full and part-time staff associated with the business. All consignors of livestock in recent days will be paid in full under the terms of the deal which has been agreed.

Russell Cash, joint administrator and partner at FRP Advisory, said: “The deal is a great result for the farming communities in the Borders as it preserves a fully-resourced local livestock auctioneering business and secures a large number of rural jobs.

“The new owners have been hugely supportive and we wish them every success with their plans to develop the business.

“Barclays Bank have also been tremendously helpful and supportive in a difficult situation; clearly demonstrating a commitment, not only to the business, but to the broader rural and agricultural community, a very important sector for the bank.”

John Thomson, a director of Thomson, Roddick and Laurie who, along with his brother Stuart, will be leading the new company through its early stages, added: “We are delighted to have acquired the C & D business which provides a vital livestock auctioneering and land agency facility to the farming community.

“We will be busy from day one continuing and further developing the busy sales programme with the help of the existing staff team and we will, of course, be working hard to ensure that we continue to enjoy the support of the agricultural community.”