Derby-based SOS Wholesale has entered administration after collapsing under the weight of “rising input costs and changing consumer spending habits”.
The discount delivered wholesaler supplied consumer goods to independent, convenience, discount, major multiple and garden centre retailers in the UK and Ireland.
The business said it was unable to meet its financial obligations as a result of the “challenges facing the retail supply chain”, and therefore made the difficult decision to cease trading.
Rick Harrison and Howard Smith from advisory firm Interpath have been appointed as joint administrators.
The majority of the company’s 100 employees have been made redundant, with a small number retained to assist the joint administrators in their duties.
Harrison 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.”
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