Industry state shown by collapse

THE COLLAPSE of one of the largest Scottish farm machinery firms is a reflection on the state of the industry, according to NFU Scotland.

Aberdeen-based SBF Agrico, which had an annual turnover of £20m and was formed from distributor George Sellar & Son, manufacturer Fraser Agricultural and A&J Bowen in a £5m deal six years ago, was forced to call in the receivers on May 25.

A spokesman for the union said: “From our point of view it has shown the knock on effects downstream in agriculture when there are financial difficulties in the sector.”

Buying new machinery was not an option for businesses that had little money to reinvest, he added.

Joint receiver Blair Nimmo of receiver KPMG Corporate Recovery said: “We are hopeful of selling the businesses as going concerns.”

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