Troubled company has been a household name across the equestrian world.
Haygain Ltd went into administration last Thursday (18 January).
The administrator is David Taylor of KRE Corporate Recovery.
There is currently no indication of whether the brand behind the famous hay streamers or its assets are to be offered for sale.
Haygain was founded in 2008 by the late Brian Fillery and his business partner Tim Oliver.
Together they had developed Propress Steamers as a new way to present clothes. For 30 years, their steamers transformed garments for top fashion brands to charity shops.
As a keen hunting and racing man, Brian’s equestrian interests led him and Tim to work out how to use the steaming concept to improve hay quality.
The equine side of the business took off following a study at the Royal Agricultural College into the benefits of steaming hay. Researchers had used what was then known as the Propress Equine Steamer, to be re-named Haygain.
Haygain sponsored the BETA Nutritional Helpline of the Year for many years.
In 2015, Propress Equine became Haygain Ltd. And by 2016, the company had secured North American investment. Haygain also acquired the Comfortstall padded equine flooring system.
By the following year, the firm announced it had quadrupled its turnover and had distributors in 25 countries.