Farmer-owned storage and marketing co-op Angus Cereals Limited has gone into administration.
Iain Fraser and Tom MacLennan, partners at business advisory firm FRP Advisory, were appointed joint administrators on 12 July.
Angus Cereals stores and sells grain on behalf of its 69 members from across the East of Scotland and began operating for the 2011 harvest.
It began with 25,400t of storage, with further development and investment expanding this to 40,000t of storage, handling and drying facilities at Montrose Harbour, with about £7m being invested in total.
Iain Fraser said: “Angus Cereals has played an important role for the agricultural community in the East of Scotland. Unfortunately, it has not been possible to secure the future viability of the business, and the board has been left with no alternative but to appoint administrators.
“We are now actively seeking a buyer for the assets at Montrose, and are hopeful that this can be secured in time for the 2018 harvest.”
Interested parties or suppliers seeking further information should contact FRP Advisory’s Aberdeen office on 0330 055 5455.