Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Dragons’ Den star Sara Davies retakes Crafter’s Companion reins amid pre-pack rescue

by January 10, 2025
January 10, 2025
Dragons’ Den star Sara Davies retakes Crafter’s Companion reins amid pre-pack rescue

Sara Davies, the Dragons’ Den entrepreneur, is set to regain control of Crafter’s Companion, the craft supply business she founded, through a fast-tracked pre-pack insolvency deal.

The company, which gained international acclaim for its paper craft, art, and sewing products, filed a notice of intention to appoint administrators at the High Court following a fall in sales, mounting debts, and management missteps in its US operations.

Under the proposed restructuring, Davies, 40, will “significantly” increase her shareholding and return to the helm as chief executive, safeguarding about 100 jobs. Exact financial terms remain undisclosed, but her new capital injection is expected to underpin efforts to refocus on specialist paper craft, a niche which first propelled her start-up from a university bedroom in 2006 into a multimillion-pound success story.

Crafter’s Companion had thrived during lockdown, only to face a sharp reversal as inflationary pressures, higher raw material costs, and challenging retail conditions took their toll. A downturn in American sales, including the collapse of a major TV shopping partner, exacerbated losses. Last year, revenues dropped by more than a fifth to £29.9 million, deepening annual losses to £5.1 million.

Despite fresh equity from Growth Partner and new bank facilities with Santander and HSBC last year, the business struggled to remain profitable on a monthly basis. Growth Partner, set up by HomeServe founder Richard Harpin, had been the majority shareholder. Its recent decision to file the notice of intention to appoint administrators paves the way for Davies to buy back key parts of the company’s assets as part of the pre-pack arrangement.

Proponents of pre-pack insolvencies argue that they allow viable businesses to emerge swiftly and preserve employment, while critics contend they can undermine unsecured creditors and write off debt. Davies acknowledged the controversy but insisted it was necessary to return the company to profitability and protect jobs.

The deal is expected to be approved in court this week, after which Davies will focus on “branding and core product strategy”, aiming to recapture the paper craft market where her company first found success. She hopes the streamlined Crafter’s Companion can recover its former momentum and avoid additional layoffs by shedding excessive debt and honing its product range.

Davies, who became a millionaire within a year of graduating from the University of York, stepped back from daily operations over a year ago but retained a minority stake. Best known for her role on BBC’s Dragons’ Den since 2019—when she became the show’s youngest-ever panellist—she has dabbled in presenting, philanthropy, and even Strictly Come Dancing. Now, returning to Crafter’s Companion, she intends to harness her entrepreneurial credentials to restore the business to health and unlock new growth opportunities.

Read more:
Dragons’ Den star Sara Davies retakes Crafter’s Companion reins amid pre-pack rescue

0
FacebookTwitterGoogle +Pinterest
previous post
Taiwan FM hails importance of US relationship, says group visits ‘contribute to peace and stability’
next post
Is NewCasinos the Go-to Site for New Casino Players?

You may also like

Brompton’s profit plunges to less than the price...

January 3, 2025

UK economy contracts again in October, defying hopes...

December 13, 2024

Starling Bank makes first acquisition in four years...

August 26, 2025

Starmer pledges £1bn investment to supercharge UK tech...

June 9, 2025

Number of young entrepreneurs selling their businesses increases...

December 18, 2023

UK mortgage approvals drop to six-month low in...

September 29, 2023

Pound sinks to lowest level against dollar since...

September 16, 2022

GOV.UK Forms to streamline public access to government...

November 4, 2024

The power of a negative review

March 27, 2024

Cryptocurrency Trading: Five Strategies to Strengthen Your Position...

August 4, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Britain’s top philanthropist Sir Chris Hohn condemns ‘cruel’ foreign aid cuts

      August 26, 2025
    • Rachel Reeves’ inheritance tax plans branded “daft” as experts warn grandparents could become “overnight tax evaders”

      August 26, 2025
    • Americans embrace Aldi as German discounter becomes fastest-growing supermarket in US

      August 26, 2025
    • Food inflation hits 18-month high as chocolate, butter and egg prices surge

      August 26, 2025
    • Poll finds MPs back electricity tax cuts to boost heat pump adoption

      August 26, 2025
    • Business secretary to meet JCB chief over US tariff chaos

      August 26, 2025

    Categories

    • Business (8,886)
    • Investing (2,239)
    • Politics (16,488)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved