Jobs have been saved in Lincolnshire following the pre-pack sale of the Burdens Group in a deal negotiated by joint administrators Gareth Rusling and Robert Dymond of Begbies Traynor.
Burdens offered equipment from New Holland, Horizon, Amazone and JPM Trailers from depots in Sutterton, North Kyme, Louth and Brigg, as well as machinery hire business.
It had started to experience financial difficulties at the end of 2023, following poor weather placing pressure on customers, alongside changes to subsidy schemes.
The administrators were called in on the 19th of August, with a deal immediately agreed for the sale of the business and assets to Russell’s Ltd and Ernest Doe & Sons. This secured 68 jobs and reduced the total creditor claims.
Assets which were not sold will be disposed of by Eddisons Commerical Ltd, likely via auction.
“Having traded successfully for more than 40 years, the Burdens Group was a victim of problems hitting the farming sector with bad weather and changes to EU subsidies resulting in its key customer base reducing their spend,” explains joint administrator Gareth Rusling of Begbies Traynor.
“We worked hard to quickly conclude a sale to two experienced agricultural businesses, and it’s fantastic that the sales have saved the jobs of 68 people.”