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Whisky grain supplier goes into administration
Alexander Inglis & Son, UK supplier of grains and cereals to the distilling sector, has gone into administration after suffering ‘weak trading’.
Tom MacLennan and Chad Griffin, of business advisory firm FRP, have been appointed joint administrators of Alexander Inglis & Son.
The company was founded in 1950 and supplies cereal, barley, seed and fertiliser to customers in the whisky, malting and distilling sectors.
The firm operates five grain stores across east Scotland and the Borders area, has a turnover of around £100 million (US$140m) and employs 40 workers.
The business struggled following a poor harvest in 2020 and a fall in demand for its services due to the Covid-19 pandemic.
Furthermore, FRP said the company was affected by ‘legacy losses’ as a result of transactions with the failed Philip Wilson Group.
As such, Alexander Inglis & Son’s board decided to wind down the business to ‘maximise value’ to creditors.
The move will involve confirming the owner of stock held in the company’s stores and the extent owned by third parties, and liaising with these owners on the sale of stock.
The grain stores, plant and equipment will also be advertised for sale.
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 and would urge interested parties to contact the Edinburgh office of FRP as soon as possible on 0330 055 5455.”