Adminstrators called in at WaverleyTBS

Details

Published on Tuesday, 02 October 2012 15:23

Written by Gemma McKenna

WaverleyTBS has entered administration, with business advisory firm Deloitte’s Daniel Butters and William Dawson being officially appointed as the joint administrators.

Waverley, which is headquartered in Chesterfield, Derbyshire, employs around 830 staff at 18 sites across the UK.

The administrators plan to continue to trade the company while looking for a buyer for the business.

Butters, leader of the restructuring services practice at Deloitte in the north east, said: “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 is understood that Matthew Clark, rival distributor, is one of the companies preparing a bid for Waverley, although this has not yet been confirmed.

Italian producer Riunite, which uses Waverley in the UK, told Harpers it was visited by two Waverley managers and a group of UK customers just last week.

A spokesman said: “It was a good visit and with good projects. Payments until now were very precise and the relationship is very good.”