AN ESTABLISHED Somerset business has entered administration after trading for more than 24 years.
Toolstream, a DIY retailer based in Somerset, first operated as Firmstake Limited in 2001 before two name changes saw the current name first appear in 2009.
The company is renowned for selling a wide range of high-quality hand tools, power tools, and outdoor work site equipment and uniforms.
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With the businesses' HQ located at Boundary Way, Yeovil, more than 100 people employed at the company have lost their jobs following the closure of Toolstream.
According to the most recent full accounts filing history on Companies House, Toolstream LTD's gross profit more than halved from 2021-22 to 2022-23. In 2022, Toolstream LTD had gross profits of £23,411, decreasing to £11,278 in 2023.
A spokesperson for Toolstream said via the company's website: "Hywel Phillips and Gavin Park of Teneo Financial Advisory Limited were appointed Joint Administrators of Group Silverline Limited and Toolstream Limited (together “the Companies”) on December 11, 2025.
"The affairs, business and property of the Companies are managed by the Joint Administrators. The Joint Administrators act as agents of the Companies and contract without personal liability."
With the closure of Toolstream LTD, more than 100 people have been made redundant, an administrator has confirmed.
Hywel Phillips, a Joint administrator, said: "Regrettably, the closure of the companies has led to 111 redundancies, and our priority is providing support to all those made redundant.
"We appreciate that this is a very difficult and uncertain time for all involved."
Following the filing of administration documents, operations at Toolstream have been suspended whilst administrators search for prospective purchasers of the company's assets.
The potential closure of the Somerset operator follows two other major operator closures in the county in 2025, with the closures of MH Joinery in Bridgwater and the KDC/one Swallowfield factory in Wellington - with more than 259 workers losing their jobs in the process.
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