Shrewsbury farm machinery firm Rea Valley Tractors set to call in administrators
A farm machinery firm with branches across Shropshire and Mid Wales is set to bring in administrators, it has confirmed.
Dunstall Holdings, the parent company of Rea Valley Tractors, Teme Valley Tractors and RVT Commercial vehicles, filed a notice of intention to appoint administrators this week.
In a statement, the company re-affirmed that it was not currently in administration and was still trading for the time being, as it looks to "explore options for the best route forward for the future of the business".
Dunstall Holdings and its subsiduaries, which also include Altegra Integrated Solutions Limited, Altegra Access & Security Systems Limited, and Teme Valley Tractors (Welshpool), employs over 270 people.
In its latest accounts for the year to 31 December 2023, Dunstall Holdings reported pre-tax losses of £6.9m.
"Owing to challenges currently facing the group, the Directors of Dunstall Holdings Limited, together with its subsidiaries - Rea Valley Tractors Limited, RVT Commercial Vehicles, Altegra Integrated Solutions Limited, Altegra Access & Security Systems Limited, Teme Valley Tractors Limited, and Teme Valley Tractors (Welshpool) have taken the difficult decision to file a notice of intention to appoint administrators," said a spokesperson.
"The Group is not currently in administration and continues to trade with the support of its key stakeholders.
"This step provides the opportunity to explore options for the best route forward for the future of the business."
Rea Valley Tractors, which has its head office on the outskirts of Shrewsbury, completed a major expansion in 2022, opening three new dealerships in Middlewich, Ormskirk and Denbigh as part of a New Holland franchise expansion.
The company, which has seven branches in total, announced the closure of its Newport depot last year.
It also appointed a new chief executive at the beginning of August.
