A notice published on Toolstream’s website explained that the affairs, business, and property of both companies are now under the control of the administrators. According to reports, the employees were called into a meeting last week and were asked to stay at home until further notice, as reported by Builders’ Merchants News. Toolstream, founded in 2009, quickly grew into one of Europe’s major tool distributors. The company became known for supplying an extensive range of high‑quality hand tools, power tools, and premium workwear.

By securing exclusive distribution rights for thousands of leading products, it served both independent shops and large national retailers across global markets, establishing a strong reputation for reliability and scale.

Administrators explained that the companies had been struggling due to tough trading conditions following the global supply disruptions caused by Covid‑19, which left them with too little stock and reduced profitability.

Despite attempts to secure new funding with the support of stakeholders, they were unable to keep the businesses operating on a solvent basis. As a result, trading has been paused while administrators seek potential buyers for the companies’ assets. A small group of employees have been kept on to help manage essential 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.”