The company, which operates five grain storage facilities in Scotland, has reportedly been suffering from weaker trading in recent months, following a poor harvest in 2020 and a contraction in demand stemming from the COVID-19 pandemic.
The London, England-based business advisory firm FRP has been appointed administrator of the Alexander Inglis & Son, which was founded in 1950.
FRP said the business wind-down, which aims to maximize value to creditors, will include confirming title to stock held in the stores, and to the extent owned by third parties, liaising with owners on stock disposals. The owned grain storage facilities and plant and equipment will also be marketed for sale.
The company, run by former Scotland rugby start Jim Aitken, has a turnover of around £100 million ($140.8 million) and has 40 employees.
Alexander Inglis & Son has been in business since 1950.