UK-Based Supplier Listawood Has Closed

Former employees said the drinkware firm, whose customers included North American distributors that do business in Europe, has become insolvent.

Listawood, a drinkware supplier based in Norfolk, United Kingdom, has shuttered its operations and ended the employment of its workers.

Sources indicated that the company had been struggling for at least the last year.

Complications arising from Brexit, the United Kingdom’s economic decoupling from the European Union, were said to be among the factors impacting the performance of Listawood. Brexit has made commerce between the U.K. and the 27-nation European Union more costly and complicated.

A Dutch-language promo information source indicated that Netherlands-headquartered PF Concept, Europe’s largest supplier, was interested in acquiring Listawood but asserted that ultimately never happened, with the takoever “failing” last December.

In a company bio, Listawood described itself as one of “Europe’s leading manufacturers of corporate drinkware… Collectively we stock over 10 million drinkware bodies.” The firm was established in 1988 as a small supplier of magnetic games; it entered promo in 1992.

North American distributors that conduct business in the U.K./Europe were among Listawood's customers.

Former employees said that Listawood was facing insolvency and closed at the end of May. In the United Kingdom, insolvency law regulates companies that are unable to repay their debts.

A filing obtained early Monday by ASI Media indicated Listawood was appointing an administrator. Typically, the administrator takes control of the company and can act to do everything from try to rescue the distressed business to otherwise get the best possible financial returns for creditors through acts such as selling off assets.

Following the filing, Ben Peterson and Lee Causer of BDO LLP became joint administrators of Listawood. ASI Media has contacted Listawood's managing director for additional insight.

After the closure, former Listawood employees took to social media, with some reporting they had no access to the company anymore and were unable to provide updates on pending orders. Customers and others with questions were being directed to BRCMTNorthandScotland@bdo.co.uk.

While looking for new positions, the workers thanked clients and reflected on their time at Listawood.

An account director who had been with Listawood for 22 years said on LinkedIn: “I would like to take this opportunity to thank you (customers) for the fantastic cooperation over the years. The experiences and relationships we have built mean an enormous amount to me. Although saying goodbye as part of the Listawood family is hard, I look to the future with optimism.”

Listawood’s U.K. sales director stated: “To all our customers, it has been great dealing with you all; we have had some interesting situations to contend with over the years. To my colleagues, it has been a pleasure working with you all. The hard work, effort and determination to do the best in often very difficult circumstances has been amazing.”

According to a 2023 study from ASI Research, total promotional product distributor sales in the United Kingdom and European Union were $12.48 billion in 2022 – a figure that accounts for apparel and hard goods business.