Moffet foklift

Wholesale drinks distributor Waverley TBS’s distribution fleet was entirely leased and the vehicles have now been returned to their owners, the firm’s administrator has confirmed.

Despite holding a licence to run more than 300 vehicles the £309m turnover company, which is now being wound-up after administrator Deloitte failed to find a buyer , one of the UK’s largest drinks wholesalers therefore had no vehicle assets to help it meet its liabilities.

It is not known if its two large DCs at Punchbowl Park in Hemel Hempstead and Felling, near Gateshead, as well as its smaller deports across the UK, were owned or leased.

The company, owned by Manfield Partners, made a pre-tax profit of £3.6m in the year to 31 December 2011 but has struggled in line with its bar, restaurant and pub customers during the recession.

Waverley TBS's situation in regards its vehicle fleet echoes that of DBC Foodservice, which went under this summer.