Four wool grading depots prepare to shut down
GLOBAL OVERSUPPLY: Demand for wool has plummeted amid the Covid-19 pandemic.
British Wool is to close four grading depots in order to maximise returns to producers as wool demand plummets due to the Covid-19 pandemic.
The Irvine depot will close along with Porthmadog, Stamford and Liskeard, which will result in the loss of 40 jobs.
British Wool, which is owned by around 40,000 sheep farmers in the UK, has calculated the move will save £1.5 million per annum – a saving of 6-7p per kg – and it says services will not be affected by the restructuring as the wool from these areas will be reallocated to other grading depots within the network.