Miles Tool & Machinery Centre Ltd, a family-owned business that has been a cornerstone of Yeovil’s specialist hardware, paint, and glass supply industry for over 50 years, has ceased trading and entered administration.
Established in 1970, the company has built a strong reputation for offering tool accessories, spare parts, and a state-of-the-art repair service. However, recent financial challenges forced the business to close its physical store, listed as permanently closed on Google, and take its website offline, which now only displays a simple “Closed” message.
The administration was formally announced in The London Gazette on February 25, confirming that Richard Warwick and Rachel Hotham from Milsted Langdon LLP in Taunton were appointed joint administrators on February 23.
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Financial filings with Companies House reveal that since October 2023, Miles Tool & Machinery Centre had registered multiple charges—secured loans against company assets—indicating attempts to manage cash flow. Some of these charges were later cleared, suggesting efforts to reduce debt obligations.
The company’s unaudited accounts for the year ending September 30, 2024, showed a small decline in net assets from £129,771 to £115,424, with fixed assets valued at over £498,000 and stock worth more than £865,000. Despite this, cash reserves were overdrawn by approximately £83,400, and short-term liabilities exceeded £1 million, including bank loans, trade creditors, and taxes.
An additional insolvency notice published in The Gazette requests that creditors submit proof of their debts by June 17, 2026, signaling ongoing efforts to manage the company’s outstanding financial commitments under the administration process.
This marks a significant moment for a long-standing family enterprise that has served the Yeovil community for decades, now facing an uncertain future amid economic pressures.