Waverley TBS has gone from administration to liquidation in the UK

Waverley TBS has gone from administration to liquidation in the UK

UK drinks supplier Waverley TBS has been forced into liquidation after administrators were unable to find a buyer.

Waverley will continue with 97 employees as liquidators try to sell off company assets, administrators Deloitte said today (8 October). Some 685 employees have been made redundant. 

The company, which was formerly the wholesale unit of Heineken's Scottish & Newcastle arm, went into administration last Tuesday.

Daniel Butters, leader of the restructuring services practice at Deloitte in the north-east, said: “Regrettably, despite our continued efforts, we have been unable to identify a suitable buyer for the business. Whilst we will continue to consider offers for the sale of the business as a going concern, we will now focus on realising value from the company’s assets.”

Based in Derbyshire, Waverley employed about 830 staff across the UK.