Alexander Inglis and Son, one of the UK's leading suppliers of grain to the whisky and distilling industries, has entered administration.
The firm, which employs 40 staff and has a turnover of £100m, operates five grain stores across East Scotland and the Borders area.
Founded in 1950, it supplies cereal, barley, seed and fertiliser principally to a wide range of customers in the whisky, malting and distilling sectors.
But a statement released by the company said it had been suffering from weaker trading in recent months, following a poor harvest in 2020 and a contraction in demand stemming from the pandemic.
Additionally, Alexander Inglis and Son said it had continued to be impacted by legacy losses on dealings with the failed Philip Wilson Group.
"The board determined that the best course of action was to wind the business down to maximise value to creditors," said the statement.
"The business wind down will now involve confirming title to stock held in the stores and to the extent owned by third parties, liaising with owners on stock disposals.
"The owned grain stores and plant and equipment will also be marketed for sale."
Tom MacLennan and Chad Griffin, partners with business advisory firm FRP, have been appointed joint administrators.
