Typhoo Tea has fallen into administration after more than 120 years.
The collapse follows several years of declining sales, mounting debts and even a break-in at its Wirral factory last year. Insolvency specialist Kroll is overseeing the administration process.
Vapes and batteries maker Supreme is in talks which are at an ‘advanced stage’ over a rescue deal. But it is not certain a deal will complete. It would be part of efforts by Supreme to grow its drinks and nutrition operations, as it reduces its focus on vaping ahead of a Government clampdown on disposable vapes due next year.
Kroll said: ‘The administration process allows the joint administrators to finalise the sale in order to rescue the business.’ Typhoo made a £38million loss last year, on sales of £25.3million.
Losses: The collapse of Typhoo Tea follows declining sales, mounting debts and even a break-in at its Wirral factory. Insolvency specialist Kroll is overseeing the administration process
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