UK tool and maintenance products distributor Troy is in administration. Employing 75 staff primarily in Devon, the business acted as a link between 460 independent businesses producing tools and supplies and its members who benefited from collective buying power.
The business blamed supply chain issues emanating from the conflict in Ukraine along with inflation and declining demand.
Joint administrators Paul Berkovi and Mark Firmin of Alvarez and Marsal have temporarily halted operations but have yet to make any redundancies whilst they pursue an accelerated sales process.
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