Administrators Oversee Wind-Down of National Kitchen Distributor Waterline

Alex Cadwallader and Dane O’Hara of Leonard Curtis have been appointed joint administrators of Waterline Limited following the collapse of one of the UK’s largest independent distributors serving the kitchens, bedrooms, and bathrooms sector. The High Court appointment was made on 9 October 2025 after an accelerated sale process failed to secure a buyer for the 78-year-old company.

Founded in 1947, Waterline operated a nationwide distribution network supplying retailers and installers with kitchen and bathroom furniture, fixtures, and accessories. The business enjoyed strong post-pandemic growth through 2021–2022 but later suffered a marked decline as inflation, higher interest rates, and the cost-of-living crisis dampened consumer demand for home improvement products.

Rising borrowing costs and slowing sales forced the company to rely on shareholder funding to maintain operations. When that support became unsustainable in 2025, the directors engaged Leonard Curtis to explore restructuring options and initiate a targeted sale process. Despite interest in specific assets such as stock and intellectual property, no going-concern offer emerged.

Cadwallader and O’Hara are now overseeing an orderly wind-down of the company, focusing on maximising asset recoveries and assisting Retention of Title suppliers in reclaiming stock. The administrators confirmed that 105 redundancies have been made, with 15 employees retained to support the closure.

Axia Valuation Services acted as agents and Crowell & Moring served as legal advisers to the administrators.