IMPORTANT - Wexford Farmers Co-Op - PRESS RELEASE 12/02/2013

Wexford Farmers Co-Op Society Ltd

PRESS RELEASE

Released on 12/02/13 @ 6.30pm

Wexford Farmers Co-Operative Society Ltd (WFC) strongly refutes the headline and content of the report in the Irish Examiner of 12^th Feb, purporting to be issued by WFC, that the Society’s banks have withdrawn their facilities. This Statement was not issued by WFC and is false.

The Board of Wexford Farmers Co-Operative Society Ltd is initiating a major restructure of its current business model. The continuing downturn in retail trading and the multiplicity of outlets engaged therein has led to a review by the Society of its involvement in such trading. It has decided to significantly reduce the number of retail outlets it operates and implement a managed and measured exit from retailing.

An immediate consequence of this decision is that up to six branches will close with immediate effect. This regrettably involves, initially, putting 30 staff on short term layoff with the possibility of redundancy for a number of them. The branches being closed will be brought to the market presenting individual or multiple opportunities to prospective purchasers.

This restructuring will not affect the ongoing operation of Enniscorthy Mart as proceeds from cattle sales are protected in a client account pursuant to the Regulations of the Property Services Regulatory Authority. The mart will continue to trade as normal as will the oil distribution business WFC Oil Ltd.

The business of WFC Properties Ltd is now integrated with the Mart and the WFC Forecourts Ltd businesses are now fully leased to other parties.

The Board and Management of Wexford Farmers Co- Operative Society Ltd wishes to reassure its creditors and stakeholders that it fully intends to honour all its commitments and effect payment in full of all its liabilities.

 Wexford Farmers Co-Operative Society Ltd are in the process of negotiating a restructure of their loan facilities with both their banks, which will secure the medium term future of the Society.

Welcome to the WFC Website

Wexford Farmers Co-Operative Society Ltd is a Farmer Co-Operative operating in County Wexford and the South East of Ireland.

It provides a comprehensive range of goods and services to the farming and wider community throughout its various divisions and subsidiary companies.

WFC has eleven outlets at strategic points in Co. Wexford, the outlets are Enniscorthy Mart, WFC Oil, Enniscorthy plus stores branches at Enniscorthy, Gorey, Bunclody, New Ross, Wexford, Bridgetown and Monamolin.

One of the oldest Co-Ops in the Country, the original Enniscorthy Co-Op was founded in 1885 and Loch Garman Co-Op (now the Wexford branch of WFC) started in 1919. The livestock Division commenced business in 1969 as County Wexford Marts.

The Co-Op has over 4000 shareholders who elect a 16 person Board of Directors of which Charles Kavanagh of Drumgoold House, Enniscorthy, Co. Wexford is the present Chairman. The Group employs 104 people and the current Chief Executive is Frank Devoy.

WFC’s range of services includes a Livestock Mart, Property and Real Estate (WFC Properties), Oil Distribution (WFC Oil Ltd), Forecourt Operators (WFC Forecourts Ltd) and Convenience Stores. Then under the parent Co-Op umbrella there is Grain Storage and Handling, Wool Exporters, Farm inputs, Fertilizer, Seeds, Animal Feed, General Hardware, Builders Providers, DIY and a host of household and electrical goods.

Wexford Farmers Co Operative Society Limited is registered under The Friendly Societies act, at Blackstoops, Enniscorthy, Ireland, Number 2975R

Commercial Property

Wexford Farmers Co-Op have a number of Commercial Properties available to lease

 Click on the links below, to view more details.

1. WFC Retail Park - Unit 5 - c.20,000sq.ft.

2. WFC Retail Park - Unit 3b - Formerly Premaman's - c.3,500sq.ft

3. WFC Retail Park - Unit 3a - c 6,649sq.ft

4. WFC Retail Park - Unit 1 - c 6,500sq.ft

5. WFC Retail Park - Unit 4 - c 1,600sq.ft

For more information or brochures.....

please click on the links above or contact us at :

WFC Properties

Tel : 053 9232045 - Fax : 053 9232046

- Email : This email address is being protected from spambots. You need JavaScript enabled to view it.