{"id":184313,"date":"2024-11-28T14:49:08","date_gmt":"2024-11-28T14:49:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/28\/typhoo-tea-falls-into-adminstration\/"},"modified":"2024-11-28T14:49:08","modified_gmt":"2024-11-28T14:49:08","slug":"typhoo-tea-falls-into-adminstration","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/28\/typhoo-tea-falls-into-adminstration\/","title":{"rendered":"Typhoo Tea falls into adminstration"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/i1.wp.com\/ichef.bbci.co.uk\/news\/1024\/branded_news\/89ae\/live\/a66dbf30-ad94-11ef-bba3-d73e5a19f8d5.jpg?fit=1024,576&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Typhoo Tea falls into adminstration\" title=\"Typhoo Tea falls into adminstration\" \/><\/div><p> <br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Typhoo Tea has fallen into administration as the 120-year-old brand&#8217;s sales slump, losses widen and debts rise.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Advisory firm Kroll has been appointed to handle the administration and find a buyer for the tea business.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Manufacturer and distributor Supreme is front runner to buy Typhoo, the BBC understands. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Typhoo has been trying to turn itself around for some time, but it suffered a setback after trespassers damaged its former factory in Moreton, Merseyside last year.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The company has been exploring a sale of the business and assets which is in the process of concluding,&#8221; Kroll said.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The administration process provides Typhoo Tea with protection, allowing the Joint Administrators to finalise the sale in order to rescue the business.&#8221;<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">It added the firm had been dealing with &#8220;significant cash flow constraints as a result of supply chain disruptions and subsequent service issues&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">According to the firm&#8217;s latest results, which cover the year to the end of September 2023, pre-tax losses widened to \u00a338m from \u00a39.6m and sales fell to \u00a325.3m from \u00a333.7m.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The results also revealed \u00a324.1m worth of &#8220;exceptional costs&#8221;, some of which relates to the break-in at the Moreton plant, which was shut down last year.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Meanwhile, the company&#8217;s debts have ballooned to greater than the value of its assets.<!-- --><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/cx28w01pp02o\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Typhoo Tea has fallen into administration as the 120-year-old brand&#8217;s sales slump, losses widen and debts rise. Advisory firm Kroll has been appointed to handle the administration and find a buyer for the tea business. Manufacturer and distributor Supreme is front runner to buy Typhoo, the BBC understands. Typhoo has been trying to turn itself [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":184314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/89ae\/live\/a66dbf30-ad94-11ef-bba3-d73e5a19f8d5.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[144283,5677,12207,137289],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/184313"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=184313"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/184313\/revisions"}],"predecessor-version":[{"id":184315,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/184313\/revisions\/184315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/184314"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=184313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=184313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=184313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}