SOS Wholesale Ltd, based in Derby, has fallen into administration, with the majority of the company’s 100 employees being made redundant.
SOS Wholesale is a discount delivered wholesaler that supplies consumer goods to convenience, discount, independent, major multiple, and garden centre retailers in the UK and Ireland.
Founded in 1996, the business has grown to become one of the largest wholesalers in the country, providing an extensive range of branded products, including groceries, soft drinks, toiletries, household goods, and confectionary from its warehouse and distribution centre in Derby, and supported by its sales team in Barnsley.
In recent months, the business had suffered many of the challenges facing the retail supply chain, including rising input costs and changing consumer spending habits. With cashflow and profitability under pressure, the business was unable to meet its financial obligations as they fell due, and so the directors took the decision to place the business into administration.
Rick Harrison and Howard Smith from Interpath were appointed joint administrators to SOS Wholesale Ltd on 8 September.
Trading at the business has now ceased, and the majority of the company’s 100 employees have been made redundant. A small number of staff have been retained to assist the joint administrators in their duties as they explore options, including launching a sale process for the business and its assets.
Rick Harrison, managing director at Interpath and joint administrator, said: “The retail sector is currently facing a number of challenges which are being felt throughout the supply chain. While SOS Wholesale had established itself as one of the largest wholesalers in the market, the challenges it faced and the impact on its finances proved insurmountable.
“Regrettably, the business was not in a position to continue trading and the majority of staff have been made redundant. We urgently call on any interested parties to come forward as we explore options for a possible sale of the business and its assets. We are also prioritising support to those employees impacted by redundancy, including supporting them in making claims to the Redundancy Payments Service.”
