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UK tool distributor Toolstream collapsed, losing 111 jobs despite 2023 profits, citing pandemic supply issues.
UK DIY distributor Toolstream entered administration on December 11, 2024, resulting in 111 job losses.
The company, a subsidiary of Group Silverline Limited, cited ongoing supply chain issues from the pandemic as a key factor, despite reporting £57.7 million in profits in 2023.
Administrators Hywel Phillips and Gavin Park were appointed to manage the process, with trading paused and a small team retained to assist.
The firm supplied tools and workwear to retailers across the UK and Europe.
Its next financial accounts, due by July 31, 2025, remain overdue.
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El distribuidor de herramientas del Reino Unido Toolstream colapsó, perdiendo 111 empleos a pesar de las ganancias de 2023, citando problemas de suministro por la pandemia.