During the final years of the 19th century the company ran into financial difficulty and from 1897 began a loose financial arrangement with Waring of Liverpool, an arrangement legally ratified by the establishment of Waring & Gillow in 1903. Waring's of Liverpool was founded by John Waring, who arrived in the city from Belfast in 1835 and established a wholesale cabinet making business. He was succeeded by his son Samuel James Waring who rapidly expanded the business during the 1880s, furnishing hotels and public buildings throughout Europe. He also founded Waring-White Building Company which built the Liverpool Corn Exchange, Selfridge's department store and the Ritz Hotel. Samuel James's son and namesake Samuel James Waring (1860–1940) continued the family business and was elevated to the peerage as Baron Waring in 1922.