The supplier is currently considering the options available.
Troy, the UK's largest independent network for tools and maintenance supplies, has been replaced in receivership.
A statement on the company’s website confirmed that Paul Berkovi and Mark Firmin of Alvarez & Marsal Europe LLP were appointed Joint Administrators of Troy (UK) Limited on Thursday 7 February.
The statement continued: “We are currently considering the options available to the Company. If you are a creditor of the Company, we will be writing to you with further information in the coming days.”
Troy was established in Bideford, Devon in 1986 when it secured its first supplier agreement with Dormer. By 2000 the supplier base grew to include Bosch and Makita and in 2010 it went into private ownership and invested into a new membership team.
Within six years that had grown to 200+ members and Troy expanded into trade supplies and manufacturing.
By 2020 that increased to 350 members and in 2023, the membership of Troy was made up of 450+ UK independent distributors of tools, maintenance and industrial supplies.
Having reached a £260 million turnover in 2023, last year the company reported “continued growth of the buying group membership while accelerating acquisitions”.
