Farmer-owned wool company Kent Wool Growers Ltd (KWG) has gone into administration after one hundred years of trading.
KWG was established in Ashford, Kent in 1920 as a co-operative, compromising 73 members to start with, but eventually growing to support more than 4,000 today.
KWG offers a range of farming services, in addition to owning three retail outlets in Ashford and Eastry in Kent and Handcross, West Sussex. The stores sell farming products ranging from clothing and footwear, to equine supplies, feed, medicines, shotguns and shooting accessories, as well as a fuel brokerage service.
KWG is also classed as an ‘A’ merchant for the British Wool Marketing Board.
A statement from joint administrators Steve Absolom and Will Wright of KPMG said the move followed a downturn in both retail and account sales, greatly affecting cashflow.
Steve Absolom said: “We have received a number of expressions of interest in the business and assets, and so our efforts are focussed on achieving a going concern sale which will secure as many jobs as possible.
“The stores remain open and KWG continues to support the farming community as best it can in these circumstances.”
Credit to: https://www.farminguk.com/News/Kent-Wool-Growers-in-administration-after-hundred-years-of-trading_47214.html