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Last Updated: Saturday, 12 January 2008, 11:15 GMT
Deal for pig group expected soon
Pigs
DRS owns more than 55,000 pigs in Yorkshire and Lincolnshire
A number of potential buyers have been found for a North Yorkshire pig breeder which went into administration with debts of more than 3m.

Murton-based DRS Pigs Ltd, which owns 6,000 sows and 50,000 piglets and pays farmers to raise them, called in administrators on Wednesday.

The move has left 90 contracted farmers across Yorkshire and Lincolnshire owed thousands of pounds in unpaid bills.

Administrators Grant Thornton expect a single buyer for DRS to be found soon.

They said they were in discussions with several parties about bids for the livestock, and hope to select a potential purchaser by Monday.

Failing this, the vertically-integrated operation would have to be broken up.

The two main creditors are HSBC Bank and Associated British Nutrition, both of whom are reported to have been unable to supply further financial support in the face of low pig prices and high feed costs.

The administrators have assured contractors that feed will continue to be supplied to the pigs currently being reared.

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