Typhoo Tea on brink of collapse, with more than 100 jobs at risk

11 hours ago · Typhoo Tea is set to fall into administration after more than 120 years in business, in a move which would put more than 100 jobs at risk. The company filed a court notice to …

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Tea Factory Trespassers Caused Millions Of Pounds Of Damage

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Aug 21, 2024 · That meant Typhoo Tea’s total exceptional costs rose from just £452,000 in 2022 to £24m in 2023. After the end of its financial year Typhoo Tea recovered £4.3m in an …

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FAQ - Typhoo Tea

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We’ve added 10% more tea to each Typhoo tea bag! Tea strength isn’t all about steeping time. In fact, steeping a tea bag with less tea for an extended time can release oils and create a bitter …

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Typhoo Tea Loses Almost £40m After Trespassers Cause 'extensive

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Typhoo Tea has reported a pre-tax loss of £37.9m for the year to September 30, 2023, compared to a loss of £9.6m in the prior 12 months ... resulting in the unfortunate loss of around 100 jobs ...

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FAQs about Typhoo Tea on brink of collapse, with more than 100 jobs at risk Coupon?

Is Typhoo Tea on brink of collapse?

Typhoo Tea on brink of collapse, with more than 100 jobs at risk - Tea company filed court notice to appoint administrators after years of declining sales and a costly break-in at its Merseyside factory. ...

Why did Typhoo Tea lose £40m in 2023?

In an interview with the BBC, Typhoo’s chief executive Dave McNulty said the move “affords the company some breathing space to explore solutions”. The news comes after Typhoo Tea made a loss of almost £40m in the year to 30 September, 2023, after trespassers caused “extensive damage” to its Merseyside factory. ...

Is Typhoo going out of business?

Founded in 1903, Typhoo has long been one of Britain’s best-known tea brands, but the decline in recent years has pushed it to the brink of going out of business. Since 2021, private equity firm Zetland Capital has been its majority shareholder. ...

Did Typhoo Tea make a pre-tax profit?

Its revenue also fell from £33.6m to £25.3m over the same period. The last time Typhoo Tea made a pre-tax profit was the £220,000 it posted in the year to March 31, 2017. Since then, the company has made over £100m in pre-tax losses. ...

Why did Typhoo appoint administrators?

The company filed a court notice to appoint administrators following several years of declining sales, mounting debts and even a break-in at its Wirral factory last year. Typhoo’s latest company filings showed that it made a £38 million loss last year, while sales fell by a quarter to £25.3 million. It had 116 employees as of late 2023. ...

Did Typhoo appoint administrators at EY?

Mr McNulty told the BBC on Friday that Typhoo had appointed administrators at EY, in a move which “affords the company some breathing space to explore solutions”. Typhoo and EY declined to comment. To receive the best stories in your inbox every day, click here to register for one or more newsletters from The Standard. ...