Israeli exporter Agrexco could potentially close within the next two weeks as the company searches for a buyer.
Kislev Forwarding and Custom Clearance Ltd, the only company who had put forward a bid, pulled out of its offer which had already been discredited as it had reportedly offered no propositions for paying off debts to creditors.
The company now has a deadline of 11 September to find a buyer but is unlikely to be sold as a whole, according to Agrexco UK which said the firm is likely to be broken up and sold off.
Ron Glowinsky, general manager of Agrexco UK, told freshinfo: “The status of the company is going to change but the business is running normally and in some areas, particularly herbs, we are growing on last year.”
If a buyer is not found by trustee Shlomo Nass by 11 September, the company will be closed, according to Glowinsky.
The Government Companies Authority owns 30 per cent of Agrexo, Tnuva Food Industries owns 11 per cent and the Plants Production and Marketing Board - itself owned by the ministries of finance and agriculture - owns 57 per cent of Agrexco.
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