Waterline Limited Enters Administration Following Failed Sale
- brg_news_room
- 4 days ago
- 1 min read
UK: Waterline Limited has entered administration and will be wound down after efforts to find a buyer were unsuccessful. Founded in 1947, the company experienced growth in 2021 and 2022 but later faced a decline due to reduced consumer spending on home improvements, rising interest rates, and cost-of-living pressures. For the year ending March 2024, the company reported an operating loss of GBP 2.2 million (USD 2.75 million), compared to a profit in the previous year.
Joint administrators from Leonard Curtis were appointed on 9 October. Although there was interest in acquiring the company’s stock and intellectual property, no buyer proceeded with acquiring the business as a going concern. The development reflects wider pressures affecting the construction and retail supply chain in the United Kingdom.
Source: Insol Europe
