A large regional firm which is part of the Fine & Country network has gone into administration after its farm auction sales business hit difficulties.
Wright Marshall operated the livestock market at Beeston Castle in Cheshire.
Three successive sales were cancelled this month, and farmers have apparently complained that cheques paid to them by the company have bounced.
Wright Marshall appointed administrators on Wednesday, with 37 market staff made redundant and the market closed.
Anthony Collier, joint administrator, said: “Wright Marshall is a well-established business in Cheshire and Derbyshire, providing a range of services for the local community.
“The challenges facing the agricultural sector are well documented, and the downturn in livestock volumes being sold through the auction mart have resulted in this business making unsustainable losses.”
The firm, which dates back to 1843, also has property services, including sales and lettings plus a fine arts auctioneering business.
The administrators, at FRP Advisory LLP, will continue to trade these parts of the business while looking for potential buyers.
The company trades across eight sites in Cheshire and Derbyshire.