Grain supplier Alexander Inglis & Son falls into administration
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Tom MacLennan and Chad Griffin, partners with business advisory firm FRP, have been appointed joint administrators of the Tranent-headquartered business, which was founded in 1950.
The grain and agricultural trading firm supplies cereal, barley, seed and fertiliser principally to a wide range of customers in the whisky, malting and distilling sectors, and led by former Scotland rugby star Jim Aitken.
It operates five grain stores across East Scotland and the Borders, has a turnover of around £100 million, and 40 staff.
The business is said to have been suffering from weaker trading in recent months following a poor harvest in 2020 and a fall in demand stemming from the Covid pandemic, while it had continued to be affected by legacy losses on dealings with the failed Philip Wilson Group.
The administrators said the business wind-down will now involve confirming title to stock held in the stores and to the extent owned by third parties, liaising with owners on stock disposals. The owned grain stores and plant and equipment will also be marketed for sale.
FRP partner Mr Griffin said: “Alexander Inglis & Son is a key supplier of cereals and barley to the whisky, distilling and allied industries. The storage facilities are very well equipped and in strategic locations. We will now focus on marketing the assets for sale.”
Mr Griffin and Mr MacLennan were appointed administrators of McClure Solicitors, which was last month acquired in a rescue move involving the closure of 13 offices.