News release from:
CALEDONIAN MARTS LTD.
21 April 2015
CALEDONIAN MARTS LOOKS TO THE FUTURE WITH NEW OWNERS
Caledonian Marts (Stirling) Ltd has officially confirmed the purchase (on Monday 20 April 2015) of its business and assets by local family business, the firm of John, Brian and Steven Gilvear, and has reiterated its focus on contributing to a healthy and competitive livestock sector within Scotland going forward.
The new company is called Caledonian Marts Ltd. and, whilst independently owned, it will continue to operate along similar lines from its base at Millhall in Stirling and as the operator of the Oban Livestock Group’s market at Oban. The business structure and staff body will remain the same, with one significant change to the structure of the business evident in the form of a new Board of Directors.
With Stirling enjoying a huge catchment area, being centred on the arterial routes up and down the country and within journey time limits for so many destinations throughout the UK, Caledonian Marts Ltd. looks towards a positive future for customers, staff and the Scottish livestock sector.
The new Board of Directors will place great importance on continued leadership, innovative thinking and driving competition within the sector.
John Kyle, Managing Director of Caledonian Marts Ltd, said:
“It is a tremendous relief to have moved past any uncertainty and be looking to the future. We fought long and hard to keep the market operating and cannot thank our loyal clients enough for their continued support.
“Our devoted customer base has shown nothing but positivity since news of the purchase was first announced. The staff, who have worked so well as a collective over recent months, are also delighted that the business is going to be run along similar lines but with a fresh perspective and positive changes over time.
“The Gilvear family has been a large operator in livestock for decades and know the auction system well. They are dedicated supporters, not just of Caledonian Marts but of other firms too, and I look forward to working with them.
“Competition is a crucial component of Scottish agriculture and our Stirling and Oban sites will ensure that we never lose sight of this.
“Our new Board of Directors will very much be adding to the company with our shared desire for the business to thrive and their diversity of skills, and tight credit control will also help to cement our future.”
Niall Bowser, new Chairman and well known farmer from Doune, reiterated the company’s focus on the future as well as its commitment to its existing customer base:
“I am delighted to have the opportunity of revitalising the company on behalf of the new owners and the farming industry.
“The Gilvears have vast knowledge and understanding of the livestock world and of marketing. Having a family owned business take over will retain that special atmosphere within the Cally which has always been its hallmark.
“Caledonian Marts is a vitally important marketing centre for all of Scotland. Competition is a wonderful thing, but in a world where farmers have so little control of product prices, it is essential to have the public forum of the live auction system to value our stock. Having two markets in Stirling makes that process even more assured.
“Buyers and sellers will continue to have choice in where they market stock in Central Scotland. Nowhere else in the UK has the farming community been afforded this privilege of two markets in one town in recent times. Competition is extremely healthy especially at a time when livestock margins are being so tightly squeezed and at a time of such uncertainty brought about by the change to the CAP.
“Looking ahead, it’s still early days but I would like to see a practical bolstering of our auctioneering staff with a view to having a much greater presence on farm, drawing buyers and sellers to the market. I would like to investigate further developing specialist areas of marketing such as show cattle, native breed sales, butchers' cattle and perhaps breeding sheep sales. Of course I would also like to see progressive increase in turnover, perhaps then with a view to some modernisation of the premises.
“We all look forward to a positive future and to continuing to play a vital role in Scottish agriculture.”
The new Board of Directors comprises:
- Chairman – Niall Bowser, Argaty, Doune
- Managing Director – John Kyle, previously Operations Manager
- Directors – Tom Preston Chartered Accountant; John Cameron CBE, Balbuthie Farm; John McGregor Chartered Accountant (RA Clement Associates) Oban; James Cullens, Dollarbank Farm, Dollar; Hunter Murray retired Managing Director, Lawrie and Symington, Lanark; Alexander Craig ex Dairy Farmer, Kilmarnock.
- Additional role outwith board – Alastair Logan, Assistant Manager.
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Caledonian Marts (Stirling) Limited (In Administration)
“On 20 April 2015, Caledonian Marts (Stirling) Limited entered administration and A J Davison and S J Woodward were appointed as Joint Administrators. The appointment was made by the directors of the Company under the provisions of paragraph 22 of Schedule B1 to the Insolvency Act 1986. A J Davison is licensed in the United Kingdom to act as an insolvency practitioner by The Institute of Chartered Accountants of Scotland and S J Woodward is licensed in the United Kingdom to act as an insolvency practitioner by The Institute of Chartered Accountants in England and Wales. The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company only and without personal liability.
The business and the majority of the assets of the Company were sold immediately following the Joint Administrators’ appointment. Any enquiries in relation to the Administration of the Company should be directed to my colleagues, Sarah Paul (firstname.lastname@example.org) and Laura McGoldrick (email@example.com). “
Statement to members
The Company’s debtor book was not included in the sale detailed above. The Joint Administrators are currently assessing the recoverability of the debtor book and will pursue debts owed and, where necessary and appropriate, will pursue recovery through legal channels.
Insolvency legislation governs the distribution of funds realised during the administration, including the order in which funds are distributed to those owed money by the Company. Although it is too early in the Administration process to confirm dividend prospects, at present, the Joint Administrators do not believe that there will be sufficient funds resulting from the realisation of the Company’s assets to make a distribution to the members of the Company.
Accordingly, it appears that the Company’s shares have no value.