Two pig units are for sale following the appointment of administrators at pig breeding and production company Agricultural Contract and Marketing Company (ACMC).
Two further units owned by the company had already been sold and the new owners were in occupation, said Mark Caley of Hull estate agent Leonards, which is marketing the remaining units jointly with Savills.
The pressures in the pig sector had were evident in what had happened at Driffield-based ACMC, said Mr Caley.
These included the Russian ban and its knock-on effect in the rest of the European market, as well as the impact of the strong pound.
“The whole thing is a tragedy,” said Mr Caley. “There have been a lot of very good people working for this company.
“The message needs to get out to a wider audience about what is happening. The food industry also needs to realise that these tight margins are squeezing businesses out of existence.”
Bob Maxwell was appointed joint administrator at ACMC with colleague Rob Sadler on 27 April. Also for sale is ACMC’s artificial insemination and semen export business.
Mr Maxwell said that the appointment had come at the request of the company’s directors, who had been trying to sell the loss-making business for some time.
The business is continuing to trade in the hands of the administrators so the three farmers who are contract finishing 12,000-14,000 pigs for the company would be paid, said Mr Maxwell.
It was too early to say how much was owed to creditors, which included feed suppliers, vets, and the company’s directors.
“We are inviting all creditors to make claims and a creditors’ meeting has to take place within 10 weeks or our appointment. I expect that will happen in a month or two,” said Mr Maxwell.
ACMC is a well-known, private family business, established in 1990. It has 35 staff.