The news has just broken that Beta Distribution PLC has gone into administration.
Deloitte has confirmed that Clare Boardman and Richard Hawes, restructuring partners at the company, have been appointed as joint administrators.
“Beta Distribution has been experiencing increasing competition in the consumables market and this has placed it under a degree of liquidity pressure and has restricted the availability of credit to their suppliers,” Boardman stated.
“It is a large importer of products from Europe and has, amongst other pressures, experienced issues with foreign exchange rates.
“Despite interest from a number of parties, no sale of the overall business was achieved and the directors took the decision to place the business into an insolvency process.”
The following statement on their website reads:
“Clare Boardman and Richard Michael Hawes were appointed Joint Administrators of Beta Distribution Plc, Beta Distribution Employee Services LLP, Beta Services (UK) Limited, The Content Wall Limited (“the Companies”) on 15 October 2018. The affairs, business and property of the Companies are managed by the Joint Administrators. The Joint Administrators act as agents of the Companies and contract without personal liability. All Insolvency Practitioners of Deloitte LLP are licensed in the UK. At present, no new customer orders are being accepted. Further information will be provided in due course.”
Our thoughts and future best wishes are for all the employees of Beta distribution.