Typhoo Tea collapses into administration as more than 100 jobs at risk

dailyrecord.co.uk:

Typhoo, the celebrated British tea brand, has plunged into administration amid a harrowing rescue deal uncertainty. The company, one of the UK's most longstanding tea firms, lodged an administration notice this Wednesday, stating that insolvency specialists from the firm Kroll were taking over.The historic company has spent the past fortnight in a fervent scramble to settle debts with creditors.

This alarming development threatens the livelihoods of more than 100 employees.In an announcement issued today, the company expressed its plight: "The company has experienced significant cash flow constraints as a result of supply chain disruptions and subsequent service issues.

The company has been exploring a sale of the business and assets, which is in the process of concluding. The administration process provides Typhoo Tea with protection, allowing the Joint Administrators to finalise the sale in order to rescue the business."Get the latest news sent straight to your messages by joining our WhatsApp community today.You'll receive daily updates on breaking news as well as the top headlines across Scotland.No one will be able to see who is signed up and no one can send messages except the Daily Record team.All you have to do is click here if you're on mobile, select 'Join Community' and you're in!If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'.We also treat our community members to special offers, promotions, and adverts from us and our partners.

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