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In administration: Miles Tool & Machinery, Yeovil.

A

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Miles Tool & Machinery entered administration February 23 due to cashflow issues

I've not seen any mention of this on the forum but more bad news for lost jobs etc.

Miles Tool & Machinery Centre Limited, a long-established family-run business based in Yeovil, Somerset, entered administration on 23 February 2026. The decision followed severe cash flow pressures and a period of financial instability.
Key details regarding the administration include:
  • Joint Administrators: Richard Warwick and Rachel Hotham of Milsted Langdon LLP in Taunton were appointed to oversee the process.
  • Company Closure: The company's physical premises on the Pen Mill Trading Estate have closed, and its website has been taken offline.
  • Redundancies: All staff members were made redundant as the business was unable to continue trading.
  • Financial Background: Latest accounts showed a significant short-term debt of over £1 million due within one year and an overdrawn cash position of roughly £83,402.
  • Creditor Actions: Creditors are required to submit their proof of debt by 17 June 2026 according to The London Gazette.
 
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I had a sense that they were in trouble as their usually excellent customer service was starting to get a bit ragged. A great pity
 
I can only imagine the stress and worry to all involved. It makes me very sad to think of it.
I’ve run a company with long running money problems and it’s terrible. I closed it down bit by bit and the only person to lose anything was me, it was the demise of the fishing industry that we supplied that did for us.
 
That's miserable. Like Roger, I had my suspicions, as I recently encountered a closed web site.

I suspect that's it (game over), on the basis it's a huge trading deficit and debt, but I guess there is some possiblilty of another company buying the assets, with a view to resuming trading (receiver and creditors permitting, obviously).

It's also horrid news for Yeovil as a whole, which is used to the fallout from poor economic choices. I note with concern that Westland Helecopters (as-was) is at risk again*. If the worst happens, it will gut the town.

There seems to have been a huge downturn in all things building-related recently. MTMC & Axminster were the guys literally "selling the shovels". It just shows how hard it is to recover if you're B2B in an industry-wide slump, and I feel for all concerned.

But never mind. According to Rachel (from Complaints) on Monday, everything's just peachy.

E.

[PS: @mods. I've toned it down, but please delete if I'm breaking the rules...]

*Telegraph, last week sometime.
 
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