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

Future Retirement Success

Business

Craft gin maker British Honey flies towards administration after funding failure

by March 22, 2023
March 22, 2023
Craft gin maker British Honey flies towards administration after funding failure

A producer of honey-based products including craft gins has revealed plans to call in administrators after failing to secure long-term funding and a sale of the business.

Oxfordshire-based British Honey Company (BHC), best known for its Keepr’s and Two Birds brands, said its shares on the Aquis exchange had been suspended pending the formal appointment of partners at FRP Advisory.

The company, which employs 80 people at its factory and warehouse in neighbouring Buckinghamshire, was founded in 2014 as a honey producer but later expanded as the craze for flavoured sprits, including craft gin, gathered pace both at home and abroad.

BHC had warned in December last year that a £750,000 loan it had agreed would only tide it over for so long.

“At that time the board made clear that further funding would need to be secured early this year, which the company has attempted to identify since this date, but it has proved extremely challenging, with no offer of funding support being forthcoming to date”, its statement said.

“Significant costs savings have been made in the business in order to conserve cash. Notwithstanding these cost savings, BHC will require further funding by end of March 2023, based on current management forecasts.

“Regrettably, the board has concluded that it is required to take the necessary steps to preserve value for creditors.”

It is understood there are still hopes the business can be sold as a going concern given the level of interest last year when a formal sale was an option under a strategic review.

Its last set of accounts showed sales of almost £8m during 2021, according to Refinitiv data.

But it is believed funding woes last year, coinciding with the cost of living crisis, saw the company cut 30 jobs as part of its cost reductions.

Read more:
Craft gin maker British Honey flies towards administration after funding failure

0
FacebookTwitterGoogle +Pinterest
previous post
Google’s rival to ChatGPT launches for over-18s
next post
Ex-Virgin Money chief Gadhia explores sale of finance app Snoop

You may also like

Net migration set for record high as Tories...

May 15, 2023

Reeves rules out Labour raising corporation tax above...

February 2, 2024

Economists forecast another 0.5-point rate rise next month

August 16, 2022

House Prices Rise for Second Month in a...

April 3, 2024

UK AI Minister warns of rising cyber threats...

March 20, 2024

Sean Edwards is a Leader in Telecommunications with...

February 10, 2025

Retailers call for crackdown on Chinese fast-fashion imports...

April 15, 2025

How does the latest Google update impact SMEs?

September 10, 2024

‘Too emotional’ & ‘too bossy’: Calls for women...

September 8, 2022

Festive golden quarter falls short for uk retailers...

January 7, 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

    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025
    • TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout

      June 7, 2025
    • Deadly drone wars are already here and the US is horribly unprepared

      June 7, 2025
    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,564)
    • Stocks (3,136)
    • 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