Momentum Maidstone, a prominent plum producer based in Kent, has been hit by a double blow after losing a lucrative contract with supermarket giant Tesco and failing to secure critical funding from the Department for Environment, Food and Rural Affairs (Defra).
The company, which supplies plums to major UK retailers, was informed by Tesco that their contract would not be renewed, leaving a significant gap in their revenue stream. This setback was compounded when Defra rejected their application for financial support under a government scheme designed to aid struggling agricultural businesses.
Industry Reactions
Local farmers and industry experts have expressed concern over the implications of Momentum Maidstone's financial struggles. "This is a worrying sign for the wider agricultural sector," said one industry insider. "If a well-established producer like Momentum can't secure funding or retain contracts, what hope is there for smaller farms?"
What Went Wrong?
Sources suggest that Momentum Maidstone's application for Defra funding was rejected due to "incomplete documentation" and "failure to meet specific criteria." Meanwhile, Tesco has not publicly commented on the reasons behind the contract termination, though some speculate it may be linked to broader supply chain restructuring.
The company has yet to release an official statement, but employees fear job losses if alternative buyers or funding sources are not found soon.
