Typhoo Tea files notice to appoint administrators amid financial struggles

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Typhoo Tea, one of the UK’s oldest tea brands, has filed a notice to appoint administrators amid £38 million reported losses in September last year.

According to the BBC, the 120-year-old company made the move as it grappled with slumping sales, widening losses, and mounting debts. The losses were a significant increase from £9.6 million the previous year. Sales fell to £25.3 million from £33.7 million during the same period.

Chief Executive Dave McNulty told the BBC that the filing "affords the company some breathing space to explore solutions."

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While confirming that accountancy firm EY has been approached to handle the process, McNulty clarified, "This does not mean we are in administration," adding that the situation remains an "ongoing confidential process."

Typhoo Tea, one of the UK’s oldest tea brands, has filed a notice to appoint administrators amid £38 million reported losses in September last year.Typhoo Tea, one of the UK’s oldest tea brands, has filed a notice to appoint administrators amid £38 million reported losses in September last year.
Typhoo Tea, one of the UK’s oldest tea brands, has filed a notice to appoint administrators amid £38 million reported losses in September last year. | Getty Images

Typhoo’s struggles have been worsened by an incident in August 2023 when organised trespassers broke into its former factory in Moreton, Merseyside. The intruders caused "extensive damage," making the site inaccessible and resulting in large quantities of tea unusable. The disruption led to unfulfilled orders and contributed to £24.1 million in "exceptional costs" reported in its financial results.

Founded in 1903 and based in Bristol, Typhoo Tea is widely regarded as one of the UK’s iconic tea brands, competing with PG Tips, Tetley's, and Yorkshire Tea. Majority-owned by private equity firm Zetland Capital since 2021, the company had previously been controlled by Indian conglomerate Apeejay Surrendra Group, which acquired it from Premier Foods in 2005.

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