Twenty employees have been made redundant at Marston Agricultural Services after it went into administration.
The receivers said the Marston company has most recently been hit by challenging economic conditions which have had a significant impact on trading.
Tyrone Courtman and Nick Edwards of accountants and business advisory firm Cooper Parry have been appointed as joint administrators to the company. The family-owned business which manufactures agricultural trailers has been trading from Marston for more than 60 years.
Tyrone Courtman, partner and Head of Cooper Parry’s Restructuring team said: “Unfortunately it has been necessary for Marston’s Directors to place the company into administration which has resulted in a number of redundancies. Our absolute focus now is on seeking a buyer for the firm and I remain optimistic about this having already received expressions of interest. I would urge anybody interested in acquiring the business and assets as a going concern to contact me immediately.”
The company was started by Ernest Green in the 1950s and since then has designed and developed agricultural trailers. The firm has an in-house design team and although focused on the UK market, had been trading further afield including in Africa, Asia and New Zealand.
The business operates from a substantial freehold property situated just off the A1 outside Marston.
Turnover for the current year to September 30 is around £4m and the company employs around 35 staff.
Any enquiries relating to the purchase of the business should be directed to David Ross of Edward Symmons on 0121 2007620.