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News

Administrators to realise assets of major kitchen distributor
Waterline Limited, one of the UK's largest independent kitchen and bathroom distributors, founded in 1947, has entered administration and will be wound down after a search for a buyer failed. The company, which had seen strong growth in 2021 and 2022, declined sharply due to a drop in consumer spending on home improvements, high interest rates, and the cost-of-living crisis. Waterline reported a £2.2 million operating loss in the year to March 2024, down from a profit the previous year.

Joint Administrators from Leonard Curtis were appointed on October 9 and, while there was interest in the company's stock and IP, no buyer was willing to take on the business as a going concern.

This collapse highlights the challenging economic pressures facing the UK construction and retail supply chain.

Read the full report at Business Sale Report here
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