Is this a casualty of last year’s drought?
A Feilding agricultural machinery business with more than $2 million in annual turnover has been put on the market for urgent sale after going into receivership.
Central Tractors and Machinery was placed into receivership last week. . . .
Turnover isn’t profit and it’s profit which determines business viability.
The Manawatu was hit hard by last summer’s drought.
Most news reports of drought and the aftermath focus on farms, farmers and stock.
But the businesses which service and supply them are also put under strain by drought as farmers reduce their spending to the bare minimum.