Toolstream, based in Boundary Way, Yeovil, has gone into administration. Picture: Google

More than 100 jobs go as Yeovil tool firm enters administration

Paul JonesJanuary 3, 20260 Comment0

MORE than 100 workers have lost their jobs after a Yeovil tool firm went into administration.

Toolstream, based in Boundary Way, appointed Hywel Phillips and Gavin Park of Teneo Financial Advisory Limited as joint administrators of Group Silverline Limited and Toolstream Limited on December 11.

A notice on the Toolstream website said they were now managing “the affairs, business and property of the companies”.

“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,” said joint administrator, Hywel Phillips.

Toolstream was founded in 2009, and became a major distributor of tools to retailers large and small.

However, the administrators said the companies had been struggling to recover after the Covid pandemic and had failed to secure fresh financing from stakeholders before becoming insolvent.