Buffalo Farm: Administrators say pre-pack sale ‘will provide future for farm’

The business went into administration on Monday after battling significant historic debt, but was immediately bought back by owner Steve Mitchell - with all 59 employees transferring to the new ownership.

All orders placed will be honoured and delivered, and both the shop and bothy at Boglily Steading Farm are able to continue to remain open.

But, the pre-pack sale to the new The Buffalo Farm Produce Ltd left founders out of pocket, sparking some backlash.

They had invested up to £10,000 each in a membership scheme in December 2022, in return for a number of benefits, including a £100 monthly spend in the farm shop.

That was suspended just six months later, last June.

Mr Mitchell has said he is determined to make good to the founders who backed his business.

He said: “Repaying them is a huge motivation. In some way we will make good but I have no idea how that pan out at this stage. The priority has to be to get business up and thriving as we believe it should be and then start to look at our founders.”

The Buffalo Farm is the biggest of its kind in Scotland with a herd of some 500 water buffalo. The Kirkcaldy business, established in 2005, sells multi-award-winning meats, cheeses and ice creams, with its shop at Boglily Steading Farm supported by a herd of more than 500 water buffalo.

Chad Griffin and Callum Carmichael, partners at business advisory firm FRP were appointed joint administrators of The Buffalo Farm Limited on Monday, and, on appointment, immediately completed a pre-pack sale of the Company to The Buffalo Farm Produce Ltd.

Mr Carmichael said: “We’re pleased to have facilitated a sale of the business that continues to see it trade and provide locally developed produce for its customers. Importantly, it provides a future for the farm following a challenging period and protects a significant number of jobs locally. We wish the management team every success in taking the business forward.”