Machinery manufacturer Ktwo has entered into administration
3rd April 2024
Ktwo Sales Ltd, the Buckinghamshire manufacturer of spreaders and trailers, went into administration at the end of last month (March 2024).
Ktwo has just confirmed that the company went into administration on 28th March.
The statutory moratorium includes Warwick Trailers, as it was acquired by Ktwo in 2019, to increase capacity for production of their high-quality muck spreaders and to offer a full product range of trailers.
Founded in 1988, Ktwo became one of the biggest British manufacturers of muck spreaders, trailers and farming machinery. Warwick Trailers started trading during the 1950s.
Ktwo financial struggles
One of its customers said that the company had been struggling financially due to rising interest rates.
Commenting on a farming forum, another Ktwo customer said: ‘A massive shame and a big loss to the ag machinery world, sadly only the start of it. Realistically UK farming cannot sustain the massive price tag of machinery currently’.
A farmer added: ‘Perfect storm for machinery manufacturers. I’m afraid, five years of eye watering price rises combined with farm subsidy incomes either falling or getting paid to sit in the house and watch flowers grow’.
The news follows the recent closure of Cambridgeshire dealer Collings Brothers and Suffolk Agri Centre.
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