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Iconic Typhoo Tea Enters Administration Amid Mounting Losses and Debt

2 hours ago

Iconic Typhoo Tea Enters Administration Amid Mounting Losses and Debt
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7 Highlights

  • Typhoo Tea, founded in 1903, is under administration due to financial distress.
  • Kroll is managing Typhoo's administration, seeking a buyer to save the company.
    • Supreme, a Manchester firm, leads talks to possibly acquire Typhoo.
    • Typhoo faces over £38 million in losses, with debts exceeding asset value.
    • 100+ jobs are at risk as Typhoo hunts for a buyer to ensure the brand's future.
    • Cash flow and supply issues complicate Typhoo's sale process.
    • Despite woes, Typhoo products remain available, showing consumer interest.
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