Farming retailer, Kent Wool Growers (KWG) has gone into administration after nearly 100 years of trading.
KWG Ltd was set up in Ashford in 1920 with 73 members but had expanded to over 4,000 members.
The company, which employs 48 staff has shops in Ashford, Eastry near Canterbury and in Handcross in West Sussex. Recently the co-operative has suffered a downturn in both retail and account sales, putting pressure on its cashflow. Now administrators Steve Absolom and Will Wright from KPMG have taken over and put the business up for sale.
Mr Absolom said: “We have received a number of expressions of interest in the business and assets, and so our efforts are focussed on achieving a going concern sale which will secure as many jobs as possible.
“The stores remain open and KWG continues to support the farming community as best it can in these circumstances.”