Typhoo Tea falls into adminstration

Published On Nov 28, 2024, 9:25 AM

Typhoo Tea, a 120-year-old UK brand, has entered administration due to declining sales, widening losses, and growing debts. The company is facing severe cash flow issues, exacerbated by supply chain disruptions and damage to its factory. Advisory firm Kroll is overseeing the administration and seeking a buyer, with Supreme, a vape and battery maker, as a potential acquirer. However, no deal is confirmed yet. Typhoo reported a significant increase in pre-tax losses and debt surpassing the value of its assets, following a break-in at its factory that caused extensive damage and halted production.