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News
WaverleyTBS goes into administration
It was announced today (2 October) that UK drinks distributor, WaverleyTBS, is going into administration.
A statement released from Daniel Butters and William Dawson, partners at administrators, Deloitte, confirmed: “The business advisory firm have today been appointed joint administrators to WaverleyTBS Limited, one of the country’s largest wholesalers and distributors of alcoholic and soft drinks.”
A total of 830 jobs will be lost if Deloitte fails to find a buyer for the business.
Butters commented: “WaverleyTBS is a prominent business within its industry and we are in negotiations with a number of interested parties who are keen to acquire the company.
“The company has a committed workforce and a strong customer network across the UK, supplying to a large proportion of both national and free trade beverage retailers across the country.”
It was reported earlier that customers in some parts of the country, notably Scotland, would not be receiving their deliveries as HMRC had halted any stock leaving bonded warehouses.
This August, Waverley’s executive chairman, Jeremy Blood, told the drinks business how he believed that the new trend for craft drinks – particularly beers – presented, “valuable opportunities for the UK on-trade sector and its suppliers”.