Elon's Vision
  • Contacts
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Elon's Vision
No Result
View All Result
Home Investing

Craft gin maker British Honey flies towards administration after funding failure

by
March 22, 2023
in Investing
0
Craft gin maker British Honey flies towards administration after funding failure
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

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

Previous Post

Ex-Virgin Money chief Gadhia explores sale of finance app Snoop

Next Post

The Outbreak of World War I: A Libertarian Realist Rebuttal

Next Post
The Outbreak of World War I: A Libertarian Realist Rebuttal

The Outbreak of World War I: A Libertarian Realist Rebuttal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest

Jay Bhattacharya on Public Health

October 12, 2021

That Bangladesh Mask Study!

December 1, 2021

Antitrust Regulation Assumes Bureaucrats Know the “Correct” Amount of Competition

November 24, 2021
Pints of champagne could be the next ‘Brexit dividend’

Pints of champagne could be the next ‘Brexit dividend’

December 24, 2021

The Origins of FDR’s Teutonophobia

0

0

0

0

The Origins of FDR’s Teutonophobia

August 2, 2025

The Complexity of Historical Narratives

August 2, 2025

Austrian Perspectives on Social Justice

August 2, 2025

The Origins of FDR’s Teutonophobia

August 2, 2025

Recent News

The Origins of FDR’s Teutonophobia

August 2, 2025

The Complexity of Historical Narratives

August 2, 2025

Austrian Perspectives on Social Justice

August 2, 2025

The Origins of FDR’s Teutonophobia

August 2, 2025

Disclaimer: ElonsVision.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.

  • Contacts
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 ElonsVision. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 ElonsVision. All Rights Reserved.