Lots of Rumours Wellgrain has gone bust?

jbl

Member
Location
North Wales
From experience when you're owed money from companies in liquidation at the outset it looks that you might get quite a bit back once they've collected the money they are owed in.

But I'm afraid in reality you won't get a penny as the administrator will run up his cost up to the point that their isn't much left once the bank and hmrc which are always the first in the que.

I'm sorry but that's my experience after being caught out 5 times over the years.
 

crazy_bull

Member
Livestock Farmer
Location
Huntingdon
But the bit I find a bit out of order is that they were sending me texts on the 21 st Feb for wheat with immediate movement. I find it hard to believe that on Tuesday they had no idea they were going and weds they went? The cynic in me thinks they would pocket all those late deals and leave the farmer holding the baby!

If true that is most appalling, as said earlier they were desperate for OSR last week to get loaded, which fits with what you say.

C B
 

Condi

Member
Not surprising to anyone in the trade I dont think. They always had to pay more because nobody would sell to them.

I do feel for the farmers affected. Hopefully its not too much money for any single person.
 
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Formatted

Member
Livestock Farmer
But the bit I find a bit out of order is that they were sending me texts on the 21 st Feb for wheat with immediate movement. I find it hard to believe that on Tuesday they had no idea they were going and weds they went? The cynic in me thinks they would pocket all those late deals and leave the farmer holding the baby!

Quite possible that the people sending those texts legitimately thought they'd still have a job today.
 
The stuff they owe me for was sold forward in 2015 & collected Nov-Dec 16, haven't dealt with em recently due to payment issues others have had aswell! Anyway it seems they in bother with hmrc aswell as a £15m debtso there won't be much to divvy out - & watch out as they may have to honour those loads not collected yet- luckily I'm not one of these, but even so left with bugger all from 4 loads rape & 4 mill wheat- daylight robbery
 

marcot

Member
Arable Farmer
Location
Bury St Edmunds
The stuff they owe me for was sold forward in 2015 & collected Nov-Dec 16, haven't dealt with em recently due to payment issues others have had aswell! Anyway it seems they in bother with hmrc aswell as a £15m debtso there won't be much to divvy out - & watch out as they may have to honour those loads not collected yet- luckily I'm not one of these, but even so left with bugger all from 4 loads rape & 4 mill wheat- daylight robbery
You must be absolutely gutted!!
You trade with someone in good faith and they do that to you ...scandalous!!
 

Fred

Member
BASE UK Member
Location
Mid Northants
The stuff they owe me for was sold forward in 2015 & collected Nov-Dec 16, haven't dealt with em recently due to payment issues others have had aswell! Anyway it seems they in bother with hmrc aswell as a £15m debtso there won't be much to divvy out - & watch out as they may have to honour those loads not collected yet- luckily I'm not one of these, but even so left with bugger all from 4 loads rape & 4 mill wheat- daylight robbery
You wont have to honour non collected loads , you would be very foolish to load (you also have a duty of care to your partners etc), we went through all this with Viking, once they went, no one loaded and if I recall no one was asked to.You will have to pay what you owe, if you have received delivery seeds and fert.
 

Surgery

Member
Location
Oxford
From experience when you're owed money from companies in liquidation at the outset it looks that you might get quite a bit back once they've collected the money they are owed in.

But I'm afraid in reality you won't get a penny as the administrator will run up his cost up to the point that their isn't much left once the bank and hmrc which are always the first in the que.

I'm sorry but that's my experience after being caught out 5 times over the years.
been had before and were offered 10p to the pound , local veg wholesaler , even went down to have words but Covent Garden boys had already paid a visit and broke his arm
 

JP1

Member
Livestock Farmer
Best to order a couple of loads of fert off them if you were worried.
Always make sure you owe them more
Sadly my experience in other industries is that it doesn't work like that. Clever eagles like PwC just go to court with a paper trail and make you pay up . It might seem easy to contra but it will depend totally on when the lever was pulled and the dates on invoices etc
 

SFI - What % were you taking out of production?

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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