Nearly 70 jobs have been saved following the pre-pack sale of Burdens Group, a Lincolnshire-based agricultural machinery dealer.
The firm experienced financial difficulties due to the pressures facing farmers after poor weather in 2023 and 2024, resulting in reduced crop yields, and this was exacerbated by changes to EU subsidies.
These issues resulted in farmers reducing their investment in new machinery which had a significant impact on Burdens Group's turnover.
Joint administrators were appointed on 19 August and a sale of the business and assets was immediately completed to Russell’s (Kirbymoorside) Ltd in Malton and Stevenage-based Ernest Doe & Sons Ltd, representing the northern and southern sales respectively.
The sale has secured 68 jobs, therefore reducing total creditor claims.
A significant amount of tangible assets which were not sold to either purchaser will be disposed of by Eddisons Commercial Limited and are likely to be sold via auction.
Headquartered in Boston, Burdens Group supplied a wide range of farm machinery from manufacturers including New Holland, Horizon and JPM Trailers.
The firm offered both new and used agricultural machinery for sale from its depots in Sutterton, North Kyme, Louth and Brigg. It also had a division providing agri machinery for hire.
Joint administrator Gareth Rusling said: “Having traded successfully for more than 40 years, the Burdens Group was a victim of problems hitting the farming sector with bad weather and changes to EU subsidies resulting in its key customer base reducing their spend.
“We worked hard to quickly conclude a sale to two experienced agricultural businesses, and it’s fantastic that the sales have saved the jobs of 68 people.”
