...and now the land at Crouchland FARM is in the hands of the receivers....

Land at Crouchland FARM (over 400 acres which was owned by William Luttman Johnson) is now in the hands of the receivers.

Crouchland Farm trading as normal, while buyers sought for freehold land.

Receivers at FRP Advisory appointed over farmland.

Jason Baker and Alastair Massey, partners at FRP Advisory, the business advisory firm, have been appointed as Law of Property Act receivers ("LPA Receivers") over the freehold land known as Crouchland Farm ("Crouchland Farm") abutting to, but excluding the farmhouse property.

The farming activities continue as normal over Crouchland Farm, based in Billingshurst, near Plaistow, West Sussex, while the LPA Receivers encourage interested parties in the freehold land to make early contact. The land totals an area of over 400 acres.

The appointment of LPA Receivers over Crouchland Farm follows the the separate appointment on 7 August 2017 of FRP Advisory partners Jason Baker and Alastair Massey, as joint administrators to Crouchland Biogas Limited (“Crouchland Biogas” or “the Company”), a renewable energy producer based in Plaistow, West Sussex. The Company produces energy from an anaerobic digestion plant based on Crouchland Farm. The joint administrators continue to trade the business and retain its 11 staff while seeking new investment and ownership, while maintaining an on-going evaluation of the financial position of the Company in the interests of creditors.

Since inception the plant has produced over 106 GIga Watt hours of electricity, the equivalent power to heat over 100,000 British homes. Feedstock for the plant is sourced locally from the land on the farm and surrounding areas.

More recently the energy business has faced changes in the funding system for renewable energy coupled with pricing declines in the wholesale electricity market. Pressure on Crouchland Biogas' cash-flow became unsustainable under its current financial structure, leaving no viable alternative for ongoing trading other than to seek the protection of administration while marketing the business and assets for sale.
ENDS

Contact - Morgan Rossiter:
James Rossiter, Tania Wild, Sarah Cooper-Lesadd
frp@morganrossiter.com

Farmers Weekly announcement; http://www.fwi.co.uk/business/west-sussex-farm-ad-business-goes-administration.htm

And listen to Radio Sussex interview; http://www.bbc.co.uk/programmes/p059wlk6 from Wednesday morning, (from 1.44 - 1.47 minutes)