Half of staff at failed wholesaler WaverleyTBS find new positions

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WaverleyTBS staff find new jobs after business failure
Half of the 800 people laid off by WaverleyTBS when the drinks wholesaler collapsed in October have found new jobs, according to former chief executive Steve Benger being interviewed in The Times.

Benger said that rivals including Matthew Clark and Booker had hired some of those dismissed by administrators from Deloitte, while others had found posts at wine suppliers, brewers and pub companies.

Benger attributed its demise to a “perfect storm” of three factors: a decision by its biggest drinks suppliers to change credit terms; a fall in sales because of dire weather; and a 10% slump in margins amid discounting by rivals.

WaverleyTBS was formed a decade ago when Scottish & Newcastle merged its Waverley wine and spirits unit with The Beer Seller.

Benger said: “As we entered 2012, we’d achieved a lot, were winning new accounts and taking market share. The speed at which things unravelled was incredible,” he told The Times.

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