Tractor and farm machinery dealer RVT shuts Ormskirk store after entering administration
A tractor and agricultural machinery dealer has shut up shop in Lancashire after being placed into administration.
Rea Valley Tractors opened its first Lancashire store at Hattersley Retail Park in Ormskirk two years ago, but the branch has now closed after the firm failed to secure a buyer for the struggling business.
A major name in the UK tractor market, RVT entered administration alongside its parent company, Dunstall Holdings, following weeks of speculation.
The company sold machinery from brands like New Holland and JCB, but recently lost its partnership with JCB. It also sold, serviced and repaired agricultural machinery as well as workplace storage solutions.
The firm has made 149 of its 169 employees redundant and is due to be wound down in the coming weeks.
Based in Burton-on-Trent, RVT was operating across seven branches in the Midlands, North West and Wales, and had been battling to keep afloat due to challenging trading conditions and inflationary cost pressure.
Its most recent financial accounts at Companies House showed a pre-tax loss of £6.66m, for the year ending 31 December 2023.
RVT had been working to secure a full or partial sale of the businesses, but no viable offers were received.' The directors said they had been left with no alternative but to place the companies into administration.
'Great sadness'
Tim Higgins, Edward Williams and Jane Steer of PwC were appointed as joint administrators and said they were working with the government's Redundancy Payments Service to ensure those affected received statutory entitlements as soon as possible.
"Rea Valley Tractors is one of the most recognisable names in the local agricultural industry and it's with great sadness that it has entered administration today along with Dunstall Holdings," said Mr Higgins.
"Regrettably, 149 employees have been made redundant - we know how unsettling this will be for the people affected, as well as the group's customers at this important time of year, and we will be providing all parties with the necessary support."