A collapsed power tools company based in Somerset is auctioning off its remaining stock, including brands such as Black and Decker and Dewalt. The business, Miles Tool & Machinery Centre, was established in 1970 but encountered financial difficulties during the pandemic.
The Yeovil-based company, located at Pen Mill Trading Estate, was a third-generation family business founded by Philip and Margaret Miles. It sold specialist hardware, paints, parts, and accessories, and also offered a power tool repair service.
Financial problems began during the pandemic due to delays in installing a new management system to track stock, which negatively impacted online sales. The situation worsened when the company's buying group, Troy, went into administration in early 2024, cutting off access to key suppliers. Rising costs such as business rates and employer national insurance contributions, along with difficulties repaying loans, further compounded the issues.
In February, joint administrators from Milstead Langdon were appointed, and all staff were made redundant. The administrators are now selling off assets to recoup money for creditors. An online auction is set to sell an assortment of power tools worth £500,000.
Tools included in the listing are Black and Decker lawn mowers, hedge trimmers, and chainsaws; Bosch hammer drills and angle grinders; Dewalt drills and cutting benches; and Metabo circular saws, strimmers, and compressors. Viewing is available on May 13 from 10am to 4pm, with bidding closing from 1pm on May 14. Collection must be arranged between May 18 and 20, from 9am to 4pm.
Administrators noted that a rescue of the company is impossible due to the cessation of trade and significant debts. According to Companies House, ordinary preferential creditors amount to £12,863, secondary preferential creditors £336,999, and unsecured creditor liability is expected to be nearly £1.5 million, including shortfalls to second and third charge holders.
