The farming cooperative, which operates a 40,000-tonne capacity storage facility at Montrose Harbour, has entered administration
Iain Fraser and Tom MacLennan, partners at specialist business advisory firm FRP Advisory LLP, were appointed as Joint Administrators on July 12.
Angus Cereals is a farming cooperative which stores and sells grain on behalf of its members, and was first operational for the 2011 harvest.
It operates a 40,000-tonne capacity, state of the art storage facility at Montrose Harbour which has been developed and improved over the last number of years with circa £7m being invested in total.
The Society’s 69 members come from across the East of Scotland.
Iain Fraser sad: “Angus Cereals has played an important role for the agricultural community in the East of Scotland. Unfortunately, it has not been possible to secure the future viability of the business, and the Board has been left with no alternative but to appoint administrators.
“We are now actively seeking a buyer for the assets at Montrose, and are hopeful that this can be secured in time for the 2018 harvest.”
FRP have asked interested parties or suppliers seeking further information to contact the Aberdeen office on 0330 055 5455.