Alexander Inglis & Son, one of the UK’s leading suppliers of grain and cereals to the whisky and distilling industries, has fallen into administration.
Founded in 1950, the business that supplies cereal, barley, seed and fertiliser principally to a wide range of customers in the whisky, malting and distilling sectors.
It operates five grain stores across East Scotland and the Borders area, with a turnover of around £100m and 40 staff.
The business has been suffering from weaker trading in recent months, following a poor harvest in 2020 and a contraction in demand stemming from the Covid-19 pandemic.
Additionally, it had continued to be impacted by legacy losses on dealings with the failed Philip Wilson Group.
The board determined that the best course of action was to wind the business down to maximise value to creditors.
This process 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.
Tom MacLennan and Chad Griffin, partners with business advisory firm FRP, have been appointed joint administrators.
Griffin said: "The storage facilities are very well equipped and in strategic locations - we will now focus on marketing the assets for sale."
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