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.”