Silver Spring Soft Drinks has entered administration as a result of experiencing “creditor pressure and cash flow problems”, according to the administrator Zolfo Cooper.
The administrator will run the company while exploring “all possible options” for the future of the business, including a sale as a going concern.
Kevin Coates of Zolfo Cooper, said: “Unfortunately, the company has experienced increased cash flow pressures in recent months. Management has explored various options for the business including a sale and a CVA [corporate voluntary arrangement], without success. As a consequence, the company was placed into administration.”
The Kent-based company currently employs approximately 80 staff and owns a number of water brands such as Perfectly Clear and 1870.
Coates added: “We will consider all options available and we believe the company is an attractive proposition, particularly given the strength of its well-known brands. Expressions of interest from potential buyers are welcome.”