Globalfarmers.com fails to see bumper harvest

Receivers appointed

By Linda Harrison • Get more from this author

Posted in Business, 5th July 2001 11:52 GMT

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UK dotcom Globalfarmers.com has gone into receivership and been put up for sale 18 months after nabbing investment worth £3.6 million.

The company, an online trader and information point for the agriculture sector, said yesterday that Tom Burton and Roger Griffiths of Ernst & Young had been made joint receivers.

Ernst & Young aims to find a buyer for the Edinburgh-based outfit, which was aimed at farmers and suppliers buying or selling goods such as fertiliser, seeds, fuel and farming equipment online, as soon as possible.

"We are looking to talk to those who recognise the value of the company's assets and can take the business forward," said Burton.

Last February the company managed to bag £3.6 million in financial backing from the Bank of Scotland and Caledonian Heritable Investments. It has around 20 staff, and 5000 farmers and 200 suppliers are registered to use the site.

Unfortunately, the company chose possibly the two worst industries this century to get involved with - the Internet and farming. To be hit by either Foot and Mouth or the dotcom bubble burst would be unlucky. But to be both...

In May, the globalfarmers.com site won the Grand Prix award at the New Media Age Effectiveness Awards thanks to its graphics, content and ease of use. No one from Globalfarmers turned up to collect the prize. ®