Following an initial conversation with KSA, our Regional Manager for Scotland and Northern Ireland, Derek Robinson, met with the company director at their plant in Northern Ireland to discuss, in detail, the problems the company was facing.
The company had a turnover of £760k, which was a significant drop of £394k on the previous year, although the director was confident of a recovery to the higher level, providing the company could survive.
The company encountered financial difficulties because the company’s market, the livestock farming industry, had been adversely affected by a number of factors; A drop in prices as a result of cheaper competitive product being available from the Republic of Ireland, and inordinately high livestock feed prices caused by adverse weather conditions. This depressed commodity price coupled with unusually high direct costs led to customers delaying orders for equipment to make their operation more efficient and effective.
Read our case study (link below) to find out how KSA Group rescued this business: