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EmailIphone Application    Posted: 2018-03-08
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Countrywide Farmers calls in administrators
The Competition and Markets Authority did not approve the sale owing to concerns it could push up prices or lower quality.

Proposed sale to Mole Valley Farmers fails to get approval 

One of the UK’s leading suppliers to the rural community, Countrywide Farmers, has gone into administration after the proposed sale of its retail business fell through.

The company had been reviewing its options over the past year and agreed the sale of its retail division, which comprises 48 outlets, to Mole Valley Farmers in October last year.

Administrators have now been called in to decide the future of the business, however, after the Competition and Markets Authority (CMA) did not approve the sale, owing to concerns that it could push up prices or lower quality in 45 local areas.

The CMA referred the merger for a ‘phase two’ investigation, a process that Countrywide said could take up to six months. As a result of the extended time period, the company concluded that it would be unable to meet its financial obligations.

Countrywide commented in a statement: ‘Following their appointment, the administrators will determine the appropriate course of action and future for the business. It is with significant regret that the Countrywide Retail business which trades from 48 stores and employs over 700 staff will now face a very uncertain future.’

The company has appointed David Pike, Mark Orton and William Wright, partners of KPMG LLP, to act as administrators for the company.

Meanwhile the sale of Countrywide’s LPG (liquefied petroleum gas) business to DDC Plc completed on 1 March, for a sum of £28.75 million.

Mr Pike is quoted by Farmers Guardian as saying: “Following the recent CMA announcement, the proposed retail transaction cannot proceed. Unfortunately, given the significant trading difficulties and cash flow pressures, this has led the directors to consider their options and take the difficult decision to place the company into administration.
 
“It is our intention to seek a purchaser for the business in whole or part and we have appointed Hilco Capital to assist in running the stores whilst we explore and develop available options. We encourage anyone who has an interest to contact us immediately.”

Image by Cwfonline/Wikimedia Commons/CC BY-SA 4.0

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Report: A third of Welsh birds are in decline

News Story 1
 A report by RSPB Cymru and partnering ornithology organisations has revealed that a third of bird species in Wales are in significant decline.

90 per cent of Wales is farmed and there is now pressure to implement new land management policies that will aid in nature restoration.

Patrick Lindley, Maritime Ornithologist for Natural Resources Wales, commented: “The problems that confront UK birds, whether they are breeding or non-breeding, are pressure and threats that confront entire ecosystems.

“Birds are a great indicator to the health of our environment. The continued population declines of birds of farmed, woodland and upland habitats suggest there are large geographic themes that are having a detrimental impact.”  

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BSAVA announces winner of 2019 Bourgelat Award

One of the world’s leading small animal medicine specialists is set to receive the prestigious Bourgelat Award at BSAVA Congress 2019.

Professor Mike Herrtage will be recognised for his major research into metabolic and endocrine diseases, including diabetes mellitus, Cushing’s disease and Addison’s disease.

During his career, Prof Herrtage has co-authored more than 100 scientific papers and written more than 200 other publications such as abstracts, books and chapters. He also continues to be a source of inspiration for thousands of undergraduate and postgraduate veterinary surgeons.