35 jobs at risk as pig breeder appoints administrators
A PIG breeding business has appointed administrators after failing to return the business to profitability.
Agricultural Contract and Marketing Company (ACMC), which employs 35 people at its site in Driffield, East Yorkshire, had issued a going concern warning when it published its most recent accounts last July.
It had expected to have sufficient resources to continue to trade for at least 12 months as long as it continued to have the support of its bank and other stakeholders.
However this week Bob Maxwell and Rob Sadler of Begbies Traynor were appointed as joint administrators and the company is continuing to trade as they seek to sell the business.
ACMC’s latest accounts, for the 18 months to December 2013, showed a pre-tax loss of £1.12m on turnover of £8.39m, which added to a loss of £902,000 for the previous 12-month period.
At the time it was battling with “escalating feed prices and lower slaughter prices”
ACMC was founded in 1990 and supplies genetically-advanced breeding stock to farmers all over the world, operating in Europe, central America and Asia.
