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CVS Group sells Dutch and Irish businesses for €2
CVS Group has seen significant fianncial losses in its subsidiaries.
The corporation has seen significant losses across the subsidiaries.

CVS Group PLC is to sell its non-core operations in the Netherlands and the Republic of Ireland for just €2.

The corporation announced its decision on Tuesday, stating that the businesses were ‘loss-making’.

Operations in both the Netherlands and the Republic of Ireland have resulted in financial loss for CVS Group. In the financial year ending 30 June 2023, the businesses made the corporation a loss of £6.8m before tax.

They were forecast to end the next financial year with a further loss of £6m.

The businesses have now been sold to Global Veterinary Excellences Limited, for the price of just €2 (£1.70).

Global Veterinary Excellences Limited is owned by James Cahill, a veterinary surgeon and former director of the subsidiaries. Dr Cahill previously worked for CVS Group for six years, and has over 30 years’ experience in the industry.

This decision was made by CVS Group’s chief executive officer, Richard Fairman, in response to the negative contribution the business were making to cash flow. The CEO felt that significant management focus would have been needed to address their failing operational performance.

The sale comes at a challenging time for the large corporation which, in April, was hit by a cyber attack.

The group, which owns 450 practices in the UK, found that unauthorised external access had been made to some of its IT systems. It was forced to take its IT systems temporarily offline, and reported the incident to the Information Commissioner’s Office.

Large corporations like CVS Group also made the headlines in March, when the Competition and Markets Authority (CMA) reported that consolidation from corporate groups could be weakening the veterinary market.

The CMA’s findings suggested that these corporations were limiting consumer choice, by investing in and promoting higher cost treatments to their clients.

Despite these challenges, Mr Fairman said that the low-value sale formed a part of CVS Group’s growth strategy.

Mr Fairman said: "Our Netherlands and Ireland practices no longer fit with our strategy of focusing on growth in the UK and Australian markets.

“We have exciting plans to expand in Australia and this disposal will free up working capital and management capacity to support our continued expansion.”

Image © Shutterstock

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Birmingham Dogs Home makes urgent appeal

News Story 1
 Birmingham Dogs Home has issued an urgent winter appeal as it faces more challenges over the Christmas period.

The rescue centre has seen a dramatic increase in dogs coming into its care, and is currently caring for over 200 dogs. With rising costs and dropping temperatures, the charity is calling for urgent support.

It costs the charity £6,000 per day to continue its work.

Fi Harrison, head of fundraising and communications, said: "It's heart-breaking for our team to see the conditions some dogs arrive in. We really are their last chance and hope of survival."

More information about the appeal can be found here. 

Click here for more...
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Avian flu confirmed at premises in Cornwall

A case of highly pathogenic avian influenza H5N1 has been detected in commercial poultry at a premises near Rosudgeon, Cornwall.

All poultry on the infected site will be humanely culled, and a 3km protection zone and 10km surveillance zone have been put in place. Poultry and other captive birds in the 3km protection zone must be housed.

The case is the second avian flu case confirmed in commercial poultry this month. The H5N5 strain was detected in a premises near Hornsea, East Riding of Yorkshire, in early November. Before then, the disease had not been confirmed in captive birds in England since February.

The UK chief veterinary officer has urged bird keepers to remain alert and practise robust biosecurity.

A map of the disease control zones can be found here.