Historic farm machinery firm Balgownie collapses

Balgownie struggled with cash flow

Agricultural machinery company Balgownie, which could trace its roots to 1907, has collapsed into administration with the immediate loss of 24 jobs.

Richard Bathgate and Graeme Bain of Johnston Carmichael were appointed joint administrators of Balgownie and Balgownie Rentals after the firm struggled with cash flow.

Mike Singer, managing director, said: “The board of directors is deeply saddened to announce that we have had to make the difficult decision to appoint administrators to the company with immediate effect.”

The administrators have retained 17 employees to assist in marketing and selling the company’s assets.

Employees are being supported as far as possible and Partnership Action for Continuing Employment (PACE) will be offering free advice and assistance to employees.

The administrators are assessing the stock and asset positions at the Inverurie and Turriff depots to assess whether the business may be in a position to continue some limited trading in the short-term under the administrators’ control while a purchaser is sought.

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