Swift Electrical Wholesalers (S-O-T) - Voluntary Administration

Swift Electrical Wholesalers (S-O-T), a kitchen supplies wholesaler based in Stoke-on-Trent, entered voluntary administration on 17 June.

The company has faced a challenging year, having lost both a key customer and a major supplier, which significantly impacted profitability and caused mounting cash flow pressures. The company was also struggling to recover from the COVID-19 pandemic and making changes to its product portfolio, but had not been able to return to profitability.

Howard Smith and Tim Bateson of Interpath Advisory were appointed joint administrators, and immediately sold the business and assets to The Recycling Group, a connected party, saving 34 jobs.

Praetura Commercial Finance has a registered charge against the company.