The historic Beeston Castle livestock market has closed down with immediate effect resulting in all 37 employees being made redundant.

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This was after administrators were called yesterday (26th June) in to run Wright Marshall Limited which continues to trade.

A statement from the administrators read: “Following a period of challenging trading and a downturn in livestock volumes being sold through the rural auction mart, the company suffered cash flow pressures which left the directors with no option but to place the business into administration.”

The statement added: “The rural auction mart has ceased trading with immediate effect and all 37 employees involved in that business have been made redundant.”

The news comes after a number of planned livestock sales were cancelled in recent days sparking rumours about financial difficulties.

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.

“Our focus now is on identifying a purchaser for the other aspects of the business in order to maximise any returns for creditors, and of course to work closely with the Redundancy Payments Service to support all affected employees at what we know will be a difficult time.”

The company has managed the Beeston saleroom since 2014 when Frank Marshall merged with Wright Manley who had operated the site since 1861.

Wright Marshall employs 129 people across its eight sites in Cheshire and Derbyshire.

The real estate and professional services divisions, as well as the fine art auctioneers, continue to trade while a buyer is sought for those businesses.