Haygain Ltd - Administration

Haygain Limited, which designs and manufactures equestrian products including hay steamers, entered administration on 18 January, with David Taylor and Paul Ellison of KRE Corporate Recovery appointed as joint administrators.

The company has recently suffered financial difficulties following the withdrawal of financial support from its primary funder.

Haygain is part of a wider group with operations in other jurisdictions including Holland, USA, Canada and Germany. It is understood that the group companies will also be entering relevant insolvency proceedings in their respective jurisdictions.

Due to the absence of funding, the joint administrators were unable to trade the company in administration. Consequently, the company has ceased to trade with all staff being made redundant.

The joint administrators are seeking a sale of the assets including intellectual property, extensive patents and tooling. Interested parties should initially contact David Taylor.