No buyer found for Waverley TBS

Drinks wholesale firm Waverley TBS which has offices in Tyneside, Hertfordshire and Derbyshire has made 685 staff redundant after administrators failed to find a buyer. The administrators Deloitte are now focussing their efforts on selling off the assets. Last week it was reported that rivals Matthew Clark and new distributor Ooberstock were in discussion to buy the business. However it seems with an estimated £10 million owing to creditors, the prospect wasn't attractive enough for either to make an offer.

A core team of 97 employees will be kept on to realise the value of the companies remaining assets.

Waverely TBS' collapse came as a surprise to many in the wine, beer and spirits industry but it reflects a tough environment for the UK bar and pub sector in general.