Suppliers
| What does ‘going into administration’ mean? | Going into administration means the Company is being taken under the management of an administrator (a licensed insolvency practitioner). The administrator assumes control of the Company from the current directors Administration is one of a number of insolvency processes. |
| What is an administrator? | An administrator is an officer of the Court and is qualified to manage the affairs of a business when it is insolvent. It is their role to take control of a Company’s affairs when it is in financial difficulty and try to find a longer term solution for it. The administrators act as agents of the Company and without personal liability. |
| Who are the administrators? | The administrators are Tim Higgins, Edward Williams and Jane Steer of PricewaterhouseCoopers LLP (the “Administrators”). |
| What has happened? | The Group has experienced challenging trading conditions in recent months. As a result of difficult trading conditions over a prolonged period and inflationary cost pressure, the Group has been pursuing opportunities to secure a long-term future through a sale of all or part of the businesses. Unfortunately, it was not possible to save all the Group companies, therefore Dunstall Holding Limited and Rea Valley Tractors Limited entered administration with all trading activities at these Companies ceasing with immediate effect.
A limited workforce will remain in place to support the closure of sites and the realisation of assets.
We appreciate this news will be disappointing. The administrators will be in touch with suppliers and creditors in due course with further information regarding next steps. |
| Future supplies | While the Companies are not going to trade in administration, there will be some essential supplies needed to facilitate an orderly winding down of the business. We will reach out to these suppliers over the coming days. Please note that the Administrators will ONLY pay for supplies where instruction to continue supply has not been provided in writing by the Administrators. |
| I have goods on site, can I get them back? | If you believe you have a Retention of Title claim over goods or a claim over a leased asset that you have supplied to the Company please contact the Administration team at: Rea Valley Tractors Limited - uk_rvt_suppliers@pwc.com |
| Can I claim as a creditor? | If the Company owes you money prior to the administration appointment date, you will be an unsecured creditor of the administration estate. You can submit an unsecured claim for the amount you are owed in to the administration estate. Further information on submitting a claim into the administration and to download a proof of debt for completion, please visit the Administrators website at http://www.pwc.co.uk/reavalley It is too early in the process to be able to advise if there will be a dividend to the unsecured creditors. We will update creditors further as to the likelihood of a dividend in due course. If you have any further queries, please email: Rea Valley Tractors Limited - uk_rvt_suppliers@pwc.com
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| What further information on the Administration will I receive? |
The Joint Administrators will publish a report via the case website to all known creditors and members of the Companies within eight weeks of the appointment. This report is known as the Joint Administrators’ proposals and will outline steps taken by the Administrators to date and the strategy going forwards.
The Joint Administrators are also required to provide a written update on the administrations to all known creditors every six months. This report will be published to the case website within one month of every six month anniversary or earlier if an Administrator vacates office or an extension to the administration is granted.
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| Who can I contact if I have any other queries? | If you have any further queries, please email: Rea Valley Tractors Limited - uk_rvt_suppliers@pwc.com
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