Administrators called in to UK bottled water firm

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Administrators have been called into one of the UK's most prestigious bottled water firms.

The Speyside Glenvilet Water Company was only recently named New Scottish Exporter of the Year, but has beached itself with severe financial problems.

Invocas Business Recovery and Insolvency has now been called in to save the firm, which could potentially be done by quickly selling assets in one of Ansarada's secure virtual data rooms.

The administrator said in a statement, according to the Scotsman: "We are speaking to a number of interested parties and are optimistic that a suitable buyer can be found for the business and an early disposal achieved."

It added that the administrator was "doing everything" to prevent job losses at the firm and the business would trade "as normal" in the meantime.

The findings of a recent investigation by Lloyds TSB revealed that 29 per cent of smaller firms in the UK were currently suffering cashflow problems.