Waterline looks to secure future of the business following cashflow pressures

Waterline, the UK's largest kitchen furniture, appliance, sinks, taps and ancillary kitchen products supplier to independent retailers is looking to secure investment in the face of the current economic challenges. 

In response to industry speculation, Michael Marriott, CEO of Waterline, has issued the following statement: “Waterline is beginning a process of seeking external investment to secure the future of the business. Like many in our sector, we are currently facing cashflow pressures and are carefully reviewing our options.

Over the past 12 months we have launched a number of promising initiatives, including:

Expanding into the contracts market

Expanding into the electrical retailer market

Developing our own OEM product ranges from overseas

To drive these initiatives forward, we have brought in experts in each of these fields to ensure the company has the specialist knowledge required to deliver on these goals.

These steps are part of a broader strategy to build a stronger, more resilient business.  As such, we are exploring several routes to source additional financing and ensure that operations can continue while these initiatives take hold.”

More to follow on this as the story develops.