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Typhoo Tea has fallen into administration after more than 120 years.
The collapse follows several years of falling sales, mounting debts and even a raid on its Wirral factory last year. Insolvency specialist Kroll oversees the administrative process.
Vaporizer and battery maker Supreme is in “advanced stage” talks about a rescue deal. But it is not certain that an agreement will be reached. It would be part of Supreme’s efforts to grow its beverage and nutrition operations as it reduces its focus on vaping before the government clamps down on disposable vapes next year.
Kroll said: “The administration process allows the joint administrators to finalize the sale to save the business.” Typhoo made a loss of £38m last year on sales of £25.3m.
Losses: Typhoo Tea’s collapse follows falling sales, rising debts and even a robbery at its Wirral factory. Insolvency specialist Kroll supervises the administrative process
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