Hopes that AV Produce and Albert Vinson could be sold to new owners have faded after administrators confirmed they are now selling off the companies’ assets.

Administrator BDO LLP said 27 of the 28 employees at the two businesses had been laid off, adding it is now “working on an asset realisation strategy”.

Albert Vinson grew crops on various acres of land owned by third parties and BDO is currently looking to negotiate deals with the landowners to maximise assets for the benefit of creditors.

“Unfortunately the economic climate and difficult trading conditions significantly affected the businesses,” said BDO restructuring partner Matthew Tait. “The administrators are taking all necessary steps to mitigate risks to customers and, going forward, will seek to maximise the realisation of assets.”