Typhoo Tea teeters on the brink of administration

Published On Nov 15, 2024, 5:44 AM

Typhoo Tea, a 120-year-old tea brand in the UK, is facing severe financial difficulties and is close to entering administration. The company reported losses of £38 million in the last year, up from £9.6 million, with sales also dropping significantly. Exceptional costs arising from a trespass incident and a subsequent fire at a former factory have compounded its troubles. Typhoo has engaged EY to assist with the administration process, as the company seeks options to resolve its financial distress.