Overview
- Directors appointed Hywel Phillips and Gavin Park of Teneo as joint administrators for both companies.
- The companies cite post‑Covid supply disruption and limited stock hitting profitability despite efforts to secure funding.
- A small number of staff have been retained to assist the process as others were reportedly told to stay at home.
- Filed accounts to July 31, 2023 showed £57.7 million profit, while the July 2024 accounts are overdue.
- Toolstream distributes over 6,000 tool and workwear lines across the UK and Europe for brands including Silverline, Triton and Scruffs.