Skip to content
Search AI Powered

Latest Stories

Typhoo Tea plans to appoint administrators

The company is reportedly using the process to seek rescue solutions

Typhoo Tea plans to appoint administrators

TYPHOO TEA, one of Britain’s oldest tea companies, is teetering on the edge of administration after enduring years of challenges, including a costly break-in at its Wirral factory.

According to court filings, Typhoo has filed a notice to appoint administrators. This move allows companies temporary protection from creditors while exploring options to address their debts.


The company is reportedly using the process to seek rescue solutions, with administrators from EY already lined up. However, filing the notice does not equate to Typhoo entering administration at this stage.

Dave McNulty, Typhoo's chief executive, said, “This action has been taken to enable us to pursue a sale of the business. A further statement will be issued in due course with additional information.”

Founded in 1903 by Birmingham grocer John Sumner, Typhoo was once among the UK’s best-loved tea brands. However, in recent years, the company has struggled as Britons increasingly shift towards coffee, energy drinks, and novelty beverages like bubble tea.

According to Mintel, tea consumption in the UK has been steadily declining and is projected to drop by eight per cent between 2023 and 2028.

Typhoo’s revenues fell from £34 million in 2022 to £25m in 2023, while losses surged from £9.7m to £38m in the same period, as per publicly available accounts.

The steep rise in losses partly stemmed from a break-in at the company’s mothballed Merseyside factory. The incident caused extensive damage to machinery and tea stock, delaying the factory’s sale, which was eventually completed in June 2024.

Typhoo Tea revealed it had to absorb £24m in exceptional costs during the 2023 financial year, largely due to damage caused by a break-in. Company executives admitted these costs had a "material" impact on its operations.

Adding to its challenges, Typhoo has faced mounting competition from a surge of "wellness" tea brands entering the market. Meanwhile, tea manufacturers have struggled with supply chain disruptions, including tea paper shortages and rising import costs following Brexit.

Private equity firm Zetland Capital has held the majority stake in Typhoo since 2021. By the end of September 2023, Typhoo’s debts had climbed to £73 million, up from £53 million the previous year.

More For You

Peter-Mandelson-Getty

Mandelson, a prominent ally of former prime minister Tony Blair, was instrumental in rebranding the Labour Party in the 1990s. (Photo: Getty Images)

Peter Mandelson to be new US ambassador

VETERAN Labour politician Peter Mandelson has been selected to become the UK's new ambassador to the United States, according to media reports on Thursday. An official announcement is expected on Friday (20).

Mandelson, 71, is set to take up the post in late January, coinciding with US president-elect Donald Trump’s return to the White House, the reports stated. This marks the first time in decades that a political appointee, rather than a seasoned diplomat, will hold the position.

Keep ReadingShow less
Mufasa:The-Lion-King-released-today

‘Mufasa: The Lion King’ released today

Getty images

Mufasa The Lion King: Disney's prequel sells 65000 tickets in Indian chains ahead of opening day

With Mufasa: The Lion King releasing today in India, it is set to make the next big wave at the box office currently ruled by Pushpa 2. Unlike the original film, The Lion King (2019), the Hollywood sequel has only managed to create a low-key buzz. However, Mufasa: The Lion King is anticipated to make a wave in India, considering Shah Rukh Khan and Mahesh Babu’s collaborations.

Meanwhile the movie sold 65,000 tickets in final advance bookings across Indian chains. Around 35,000 of these are from the opening day. It has also been witnessing strong pre-sales for the dubbed versions, especially Telugu.

Keep ReadingShow less
Seema Misra

Seema Misra was wrongly imprisoned in 2010 after being accused of stealing £75,000 from her Post Office branch in Surrey, where she was the subpostmistress. (Photo credit: Getty Images)

Post Office was institutionally racist: Seema Misra

A LEADING campaigner in the Post Office Horizon scandal has told Eastern Eye racism played a part in her horrific ordeal, but hoped her determination to fight back will change people’s perception of Asian women.

An inquiry into the wrongful prosecution of more than 900 sub-postmasters due to incorrect information from Fujitsu’s accounting software Horizon concluded on Tuesday (17), as Eastern Eye went to press.

Keep ReadingShow less
Demi-Moore-and-Amy-Adams-interview-hollywood

Amy Adams and Demi Moore from the interview

Youtube @Variety

Demi Moore and Amy Adams discuss societal pressure on women to repress anger

Everything about women having to don submissive and obedient roles in life may be old news, but it continues to be a sad reality. Contextualising the plight of women, Demi Moore and Amy Adams, in a one-on-one interview, discussed how women are often obliged to hide their rage due to societal pressure.

Both their recent films, The Substance and Nightbitch respectively, have similar themes of unexpressed female rage. "I love how both of our films also deal with surrealism and mysticism, and these elements of rage," Adams said.

Keep ReadingShow less
Pushpa-tops-box-office-collection-india

Allu Arjun in Pushpa: The Rule

Pushpa: The Rule

Pushpa 2: Allu Arjun film sees 1100cr Box Office Collection in India in 2 weeks

In an incredible show of strength, Pushpa 2 posted Rs 301 crore in its second week at the Indian box office. Compared to the staggering first-week collection of Rs 600 crore, the 51% drop in the second week is as robust as it is. And it’s nothing short of magical. And guess the magic number. The total box office gross for the two weeks is Rs 1110 crore.

Pushpa 2 is no more a mere favourite to beat Baahubali 2, but is now pacing toward making a record. The collection today in its third week will put it in stone.

Keep ReadingShow less