A BUSINESS in Somerset that has been around for nearly 50 years has entered administration.
Miles Tool & Machinery, based in Yeovil, started trading in 1984 as Miles Hardware (Yeovil) Limited.
The company is renowned for operating a repair facility alongside selling a wide range of tools, workwear and spare parts over its 41 year history.
According to the company's Instagram page, it is a family-run business established in 1970 - more than 50 years ago.
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According to Companies House, the unaudited financial statements of Miles Tool & Machinery for the year ending September 30, 2024, show a slight decrease in net assets from £129,771 in 2023 to £115,424 in 2024.
As recent as February 18 2025, second filings showed that Mr Thomas John Miles and Mrs Sarah Miles were appointed directors of the company alongside Mr Michael Miles, who was first appointed before March 31 1992.
On Wednesday, February 25, an announcement appeared in The London Gazette confirming that the company had appointed Richard Warwick and Rachel Hotham, both from Milsted Langdon LLP, Taunton, as joint administrators on February 23.
When approached about how this company is entering administration, administrators confirmed that "all staff" were made redundant due to "cashflow pressures" facing the business.
Richard Warwick of Milsted Langdon LLP told the County Gazette: "At this time, we can confirm that Miles Tool & Machinery Centre Limited entered administration on February 23, 2026 following an application to Court made by the directors.
"Due to cashflow pressures it was not possible for this long-established family business to continue trading and following a short closing down sale it was, unfortunately, necessary for all staff to be made redundant.
"We have no further information to provide at present, as we are still early in the stages of the administration."
The most recent filing history shows a 44-page downloadable Registration of charge document for Miles Tool & Machinery.
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