Administrators say that Opperman Plants has faced “a series of challenges” in recent years

A Spalding-based plant supplier has collapsed into administration after 29 years.

Family-run Opperman Plants, founded in 1997, appointed administrators on April 13 after facing a series of challenges in recent years.

According to its website, the Low Fulney-based business grows more than 8 million plants a year for retailers and wholesalers across the UK.

Spalding-based Opperman Plants has entered administration (stock image)

placeholder image — Spalding-based Opperman Plants has entered administration (stock image)

However, the company has faced a number of financial challenges in recent years, including the loss of key customers and rising costs.

The directors sought advice from FRP Advisory and took steps to place the business into administration in order to protect the interests of creditors.

The joint administrators are continuing to trade the business while actively progressing a sale process.

A number of offers have been received, and discussions are ongoing with interested parties, with a view to securing a sale of the business and assets.

As Insider Media reports, one employee has been made redundant as their role was no longer required, while the remaining 40 staff have been retained and continue to be paid. Nathan Jones, partner at FRP Advisory, said: "Opperman Plants is a long-established and well-regarded business with strong operational foundations and a diversified sales model. “While it has faced a series of challenges in recent years, it continues to trade and fulfil customer demand. "We are encouraged by the level of interest received and are working closely with a number of parties to secure a going concern sale. “Our priority is to secure the best possible outcome for all stakeholders, including maintaining continuity of the business and safeguarding jobs where possible.”