Historic British forestry firm collapses after 200 years with 32 jobs at risk and £8m debt

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Historic British forestry firm collapses after 200 years with 32 jobs at risk and £8m debt.

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A historic Scottish forestry business with roots stretching back more than two centuries collapsed into administration owing creditors more than eight million pounds, newly released documents have revealed.Christies of Fochabers, based at Arradoul Farm near Buckie in Moray, entered administration last year after mounting cashflow pressures left the seventh‑generation family business unable to continue trading.Joint administrators Graham Smith and Michelle Elliot of FRP Advisory were appointed in September to oversee the process.The business was acquired in February by Alba Trees, one of the United Kingdom's largest forest nursery operators, in a deal worth two point six million pounds.

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TRENDING Stories Videos Your Say The sale included one million pounds for the company's property and land assets, and all thirty two employees were retained, preserving the workforce after months of uncertainty.The administrators' report, first reported by The Herald, sets out the scale of the financial...

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