Countrywide Farmers, the farm and rural supplies business, is set to sell off its remaining 53 stores after reporting a loss of £9.9 million last year.

The group, which has outlets in Gloucester, Tewkesbury and Cirencester, closed 14 stores in March in an effort to improve profitability,

Countrywide Farmers said in its last strategic update: "The Company reports a loss after tax from continuing operations for the period of £9.9m following disappointing trading performance and continued investment through what has been a period of considerable change and transition

.

"It is clear to the Board that the retail environment remains challenging and that to compete effectively for the long-term will require further rationalisation of the cost base along with potential further investment.

"With the operational challenges outlined above, three business units all requiring investment, together with a legacy pension scheme to fund, the Board has to prioritise the opportunities that will deliver the greatest returns.

"Countrywide therefore announces that it has appointed advisors PwC to explore a potential sale of the retail business. The retail business consists of 53 Country Stores supported by a field sales team and back office teams enabled by the newly implemented Multichannel/ERP system.

"It is not anticipated that the Rural Energy - LPG or Turf and Amenity businesses will be impacted by this decision."