A kitchen and bathroom distributor in the UK has ceased trading and entered administration, ending weeks of speculation about its financial future. Staff confirmed the company's collapse, though the appointed administrator has not yet been disclosed.
© Crown Imperial
Earlier this week, the company, Waterline's sister company, Crown Imperial announced it would no longer use Waterline as its exclusive distributor but will continue supplying retailers directly. A memo to retailers stated: 'Crown Imperial would like to announce that its distribution partner Waterline have advised recent discussions with a third party have unfortunately not progressed.'
Crown has transferred all order and supply operations to its Herne Bay factory, with orders now placed via its online trade portal. The company thanked retailers for their 'understanding and support during the unprecedented challenges' and reaffirmed its commitment to service.
Waterline had previously reported 'late-stage, exclusive discussions' with an investor, but filed a notice of intention to appoint administrators on 26 September.
Source: www.kbbreview.com
