Farmers owed £1.6m unlikely to be paid after administration

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Joint administrators Anthony Collier and Phil Reynolds of FRP Advisory were appointed on 7 June and said they were “exploring options” and would be in contact with all known creditors “in due course”.

Ronald Akkerman, the dairy’s chief executive and co-founder, said administrators have two large, secured creditors so “the likelihood of any distribution to unsecured creditors is very small”.

He added that plans were under way for a “rescue plan” with the aim being “an offer to farmers for full settlement, conditions to be confirmed”.

He said about £1.6m was still owed to farmers for three weeks of milk supply, adding: “We will do whatever is in our power to take the business out of administration and back into operation.”

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