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Arable Farming
Cropping
Another farmer co-op goes under
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<blockquote data-quote="Hay Hoe Lets Mow" data-source="post: 5554250" data-attributes="member: 111352"><p>My point was that Openfield were seen as one of the major contributing factors in Angus Cereals demise, and I was highlighting the irony that they have now purchased it.</p><p></p><p>Openfield have purchased the balance of the space they did not originally own from the other members for a fraction of the cost both they and the other members initially paid. If owning the site is such an attractive business proposition (so much so they must have outbid any other bids), why did they not support the co-op and make a success of it rather than letting it go into administration? And lets not forget that Openfield no longer employ a single Grain Buyer in Scotland!</p><p></p><p>Openfield are clearly buying Angus Cereals solely to not lose the asset value on their balance sheet, and to fudge their next seasons figures. "We lost money again but look at the big new store we purchased, therefore these results are not too bad as we made a big investment".... that reads far better than "We lost money again, oh and we also lost the X thousand tonnes of space at Angus Cereals we had valued in our book for the price we paid for it".</p></blockquote><p></p>
[QUOTE="Hay Hoe Lets Mow, post: 5554250, member: 111352"] My point was that Openfield were seen as one of the major contributing factors in Angus Cereals demise, and I was highlighting the irony that they have now purchased it. Openfield have purchased the balance of the space they did not originally own from the other members for a fraction of the cost both they and the other members initially paid. If owning the site is such an attractive business proposition (so much so they must have outbid any other bids), why did they not support the co-op and make a success of it rather than letting it go into administration? And lets not forget that Openfield no longer employ a single Grain Buyer in Scotland! Openfield are clearly buying Angus Cereals solely to not lose the asset value on their balance sheet, and to fudge their next seasons figures. "We lost money again but look at the big new store we purchased, therefore these results are not too bad as we made a big investment".... that reads far better than "We lost money again, oh and we also lost the X thousand tonnes of space at Angus Cereals we had valued in our book for the price we paid for it". [/QUOTE]
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Another farmer co-op goes under
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