Flower and plant supplier Frank Rowe has been forced into administration and made 17 of its 47 staff redundant, but administrators plan to sell the business as a going concern.
Since 1999, the Somerset-based family-run company faced sales to its main supermarket customer falling 30% year-on-year. Although the pot plant production part of the business has performed to budget this year, the company said it had suffered from patchy demand, competition from imported plants and lower than average prices paid for chrysanthemums.
Legislation changes removing the option to phase tax payments added further pressure, and after a big gas price increase was forecast for this winter, the directors called in professional help.
Since 1999, the Somerset-based family-run company faced sales to its main supermarket customer falling 30% year-on-year. Although the pot plant production part of the business has performed to budget this year, the company said it had suffered from patchy demand, competition from imported plants and lower than average prices paid for chrysanthemums.
Legislation changes removing the option to phase tax payments added further pressure, and after a big gas price increase was forecast for this winter, the directors called in professional help.
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