Real Estate Agency and Professional Services business, Wright Marshall, has gone into administration.
The company employ a team of 129, across eight sites in Cheshire and Derbyshire. They offer a range of services; real estate, professional services and the operation of fine art auction houses in Knutsford and Beeston.
They also have a rural auction mart in Beeston Castle, Cheshire, though this division ceased trading immediately, with 37 jobs lost.
On 26th June 2019, Anthony Collier and Ben Woolrych, of FRP Advisory were called in. The real estate, professional services and fine art auctioneers’ divisions are to continue trading whilst a buyer is sought.
‘’Wright Marshall is a well-established business in Cheshire and Derbyshire, providing a range of services for the local community. The challenges facing the agricultural sector are well documented, and the downturn in livestock volumes being sold through the auction mart have resulted in this business making unsustainable losses.’’
The challenging trading period, cash flow pressures experienced, and a downturn of livestock volumes being sold at auction is therefore said to be the blame.
The appointed partners are now placing their focus towards identifying a purchaser for the other business divisions, as well as maximising returns for creditors and providing support for the affected employees.
Likewise, If you are an affected employee, please see our guide here.