Overview
- Restructuring firm Begbies Traynor has been brought in to run a rapid process exploring rescue options and a potential sale.
- Court documents confirm a notice of intent to appoint administrators, creating a statutory window before an administrator takes control.
- Latest accounts show turnover rose to £17.4 million in the year to February 2024 with improved pre-tax profits, yet rising costs have squeezed margins.
- UK production at a 45,000-square-foot Mill Hill facility employing more than 100 people has become increasingly expensive relative to overseas rivals.
- Products remain stocked at major retailers including Boots, Superdrug and Tesco, but family ownership and the company’s future now hinge on securing a buyer.