A vegetable producer based in Lincolnshire, QV Realisations Ltd, part of the AH Worth Group, has entered administration, jeopardizing approximately 200 jobs. The company has faced significant financial challenges over the last two years, leading to its cessation of trading. Efforts to secure a buyer for the business were unsuccessful, prompting the appointment of administrators from Teneo Financial Advisory Ltd. Despite the closure of operations in Holbeach, AH Worth Group's other ventures, including those in Fosdyke, continue operations unaffected.
The administration has been attributed to volatile potato prices and rising operating costs, impacting QV Realisations' financial stability. A minimal team remains to assist with the company's wind-down, while specialized teams from Teneo aim to support affected employees through collaboration with government services and local employment opportunities. The AH Worth Group, established in 1895 and known for producing a variety of vegetables, remains operational in other areas, maintaining profitability and strong financial foundations.
Source: bbc.com