Waverley TBS goes into administration
Independent alcoholic and soft drinks distributor Waverley TBS has gone into administration and has appointed Daniel Francis Butters and William Kenneth Dawson as administrators.
The holding company of the UK-based distributor, Huntingtower Investment Group, is also under administration.
Waverley TBS is owned by Manfield Partners, which acquired it from Heineken UK in 2010. Huntington Investment was created to acquire Waverley.
The company, headquartered in London, operates from over 18 sites and has more than 800 employees.
Manfield Partners has attributed the weak financial condition of the distributor to tough trading conditions in the country.
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