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Companies going bankrupt/into administration
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kenneal - lagger
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PostPosted: Wed Oct 11, 2017 12:47 pm    Post subject: Reply with quote

From Farming News, this seems to be a company going down the tubes but trying to do the decent thing while they're about it.

Quote:
Countrywide in exclusive discussions with Mole Valley over its retail business
04 Oct 2017
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Categories: Frontdesk / Finance

Following the announcement of its intention to explore the potential sale of the Retail business in April, Countrywide reports encouraging progress towards a sale and confirms that it has entered into exclusive discussions with Mole Valley Farmers Ltd.

This process and negotiation of detailed terms is expected to take a number of weeks to conclude, with the Company targeting completion by the end of the year. This represents an excellent opportunity to secure the future of the retail business with an established sector leading company for our customers and employees.

Countrywide also confirms today that it has completed the sale of its 80% shareholding in MSF Welland Valley Feeds Ltd to the existing Management team for a consideration of £1m. MSF Welland Valley Feeds Ltd comprises a single retail store based in Market Harborough which operates as an entirely standalone business. Net proceeds from the sale will be utilised to reduce bank facilities.

Countrywide also further confirms that it is in the process of winding down and transferring its Turf and Amenity business to an alternative provider, enabling the Turf and Amenity team to continue to serve customers under new ownership.

We are encouraged to report that trading performance in the LPG business continues in line with expectations.

In light of the developments confirmed today, the Countrywide Board has taken the decision to suspend trading in its shares with immediate effect.

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clv101
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PostPosted: Wed Oct 11, 2017 9:15 pm    Post subject: Reply with quote

Our local Countrywide store closed around a year ago.
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raspberry-blower



Joined: 14 Mar 2009
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PostPosted: Tue Nov 28, 2017 8:40 pm    Post subject: Reply with quote

BBC: Palmer and Harvey fails, 2500 jobs lost

Quote:
P&H, which is the UK's largest tobacco supplier, had been struggling with debts and owed substantial sums to key suppliers.

It is the UK's fifth biggest privately-owned firm, and delivers more than 12,000 products, including food and alcohol.


It supplies about 90,000 outlets around the UK including major chains, convenience stores, corner shops and petrol station forecourts.

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emordnilap



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PostPosted: Mon Dec 04, 2017 2:35 pm    Post subject: Reply with quote

Toys'r'Us are also realigning their business strategy, with the potential loss of 800(?) jobs).
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emordnilap



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PostPosted: Mon Dec 04, 2017 2:39 pm    Post subject: Reply with quote

raspberry-blower wrote:
BBC: Palmer and Harvey fails, 2500 jobs lost

Quote:
P&H, which is the UK's largest tobacco supplier, had been struggling with debts and owed substantial sums to key suppliers.

It is the UK's fifth biggest privately-owned firm, and delivers more than 12,000 products, including food and alcohol.


It supplies about 90,000 outlets around the UK including major chains, convenience stores, corner shops and petrol station forecourts.


This is partially through large retailers (Tesco et al) wanting to control the whole supply chain, rather than go through a middle agent. They get that chunk of the profit and can exert even more pressure on producers.
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