An agricultural machinery dealer based in Burton upon Trent has gone into administration with the loss of almost 150 jobs.
Dunstall Holdings and its subsidiary Rea Valley Tractors have called in administrators at PwC after failing to find a buyer.
Difficult trading conditions over a prolonged period and inflationary cost pressure led to the companies pursuing opportunities to secure a long-term future through a sale of all or part of the business.
But despite a comprehensive marketing process, no viable offers were received for the group as a whole and both Dunstall Holdings and Rea Valley Tractors will be wound down over the coming weeks.
The group is primarily engaged in the sale, servicing and repair of agricultural machinery, materials handling equipment and workplace storage solutions.
A total of 149 out of 169 employees have been made redundant immediately. Some will be retained across the seven sites operated by Rea Valley Tractors in the Midlands, North West England and Wales to support in winding down operations.
Tim Higgins, Edward Williams and Jane Steer of PwC have been appointed as joint administrators.
Tim said: “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 along with Dunstall Holdings.
“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.”
Dunstall Holdings, which has various subsidiaries, employed 261 people and generated a turnover of almost £143 million in 2023, according to its most recent accounts filed with Companies House.
Rea Valley Tractors supplied agricultural machinery throughout Staffordshire, Shropshire, Derbyshire, Cheshire, Lancashire, North Wales and mid-Wales, as well as selling used equipment across the UK and abroad.
