1 FARMLANDS
DEALS INSIDE
Vol 22 No 23, June 17, 2024
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Lean times as meat co goes bust NEWS
F
Food and fibre
ARMERS and transport companies in the lower North Island are hundreds of thousands of dollars out of pocket following the liquidation of Whanganui-based meat processor Waimarie Meats Limited. It was gazetted for liquidation on March 1, though Companies Office records have the liquidators appointed on May 31. A full liquidators’ report is still pending. Dean Ramsden, whose family farm at Akitio east of Dannevirke confirmed it is owed almost $200,000 for 104 head of unpaidfor livestock Waimarie purchased in three lots between early December last year and early January this year. “There has been no sign whatsoever of any payment to come. We posted a statutory demand on May 1 for payment by the end of May, but nothing came of it. We have not yet heard anything from the liquidator about the full amount owing,” he said. The lack of payment has set the family farm business up for a dire winter in a district that has been sorely short of moisture and feed. “It has put our farming company
at risk, we have gone into overdraft at interest rates of 10%. “We have not been able to put on the usual amount of fertiliser and are going into winter short of feed.” He said they were forced to quit weaners and in-lamb ewes this month in order to generate some cash for winter. “We have never had to sell inlamb ewes before.” Hawke’s Bay farm business trustee Andrew Field is listed as one of the plaintiffs who sought the Waimarie liquidation. The farm he is a trustee on is owed almost $100,000 relating to stock sales to Waimarie Meats, dating back over six months. “We have only had silence from Waimarie since then. I believe they have been on the market for over a year and if I had known this, I would not have done business with them.” For both farmers the company’s failure contains memories of the failure of the Weddel company in 1994. Both had stock caught up in that company’s sudden collapse. Field estimates there may be as much as another $200,000 owed farmers. He urged the liquidators to look hard at the timing of key decisions made by the company, including when it was put on the market, Continued page 3
The one with the most free stuff wins These children enjoyed the tasty treats on offer at the Zespri stand at Fieldays last week when thousands of people descended on Mystery Creek for the annual three-day celebration of the rural sector. Photo: Jamie Troughton Dscribe Media
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Rabobank’s Good Deeds Competition is back! Are you involved with a project that’s making a positive impact in your local rural community? Whether your local sports club needs a lick of paint, or your community hall needs a makeover, we’d love to hear from you! Your project could receive $5,000 cash and a day’s labour from the teams at Rabobank and The Country radio show to help bring your community initiative to life. We’re committed to helping rural communities thrive, and your project could be the next to benefit. Entries can be submitted at rabobank.co.nz/good-deeds Entries close 30 June 2024. T&C's apply.