UK drinks distributor Waverley TBS collapsed owing creditors in the trade GBP40.5m (US$63.5m), according to the company's administrators.

High Court documents on Deloitte's website, dated 9 November, reveal that Diageo is the leading creditor with GBP6.1m owed (US$9.7m), followed by Anheuser-Busch InBev UK (GBP2.9m), Bacardi-Brown Forman (2.8m) and Heineken UK (2.8m). Overall, Waverley has debts totalling GBP64.6m (US$102.6m).

The former company went into liquidation last month after Deloitte was unable to find a buyer. The administrators said at the time that the company would continue with 97 employees as company assets were sold off. As a result of Waverley's collapse, 685 workers were made redundant.

Part of the reason for its demise, the documents reveal, is that a “number of key suppliers reduced credit terms leading to working capital problems”. 

A creditors meeting is due to take place on 27 November at 11am at Doubletree, in Sheffield, the documents show.