Drinks wholesaler Waverley slides into administration

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Waverley TBS, one of the country’s largest wholesalers and distributors of alcoholic and soft drinks, has gone into administration.

The company – which is headquartered in Chesterfield, Derbyshire – employs 830 staff at 18 sites across the UK.

Deloitte partners Daniel Butters and William Dawson have been appointed joint administrators to Waverley. They said the company would continue trading while they hunt for a buyer.

“Waverley TBS 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,” said Butters.

“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.”

Waverley generated pre-tax profits of £4m before exceptional items in 2010, against a loss of £0.9m the year before. That followed the closure of 10 distribution depots and a reduction in head count of 300 people.

It was sold by Heineken UK to Manfield Partners in June 2010.

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