A South West-based supplier of hand tools, power tools and workwear, Toolstream Limited, along with its parent company Group Silverline Limited, has entered administration, resulting in over 100 redundancies.
On 11 December 2025, the companies’ directors resolved to place them into administration, appointing Hywel Phillips and Gavin Park of Teneo Financial Advisory Limited as joint administrators. Administrators confirmed that 111 roles have been made redundant.
Toolstream, based in Yeovil, is an importer and distributor of DIY tools and operates from a freehold property owned by Silverline. The businesses faced difficult trading conditions following the Covid-19 global supply crisis, which limited stock availability and affected profitability. Despite efforts to secure funding to continue trading, a solvent recovery was not possible, leading to the decision to enter administration.
The administrators have paused trading and are inviting potential buyers interested in acquiring the companies’ assets. A small number of staff have been retained to support ongoing operations during this process.
Hywel Phillips, joint administrator, said: “Regrettably, the closure of the companies has led to 111 redundancies and our priority is providing support to all those made redundant. We appreciate that this is a very difficult and uncertain time for all involved.”
Toolstream is the exclusive distributor of more than 6,000 branded tools, fixings and workwear across the UK and Europe, working with brands including Silverline, Triton and Scruffs. According to its most recent accounts for the year ending 31 July 2023, the company recorded a turnover of £57.7m. Its next set of accounts, due by 31 July 2025 for the year ending 31 July 2024, are overdue.
