Summary
Denby, a well-known pottery company in Derbyshire, has appointed administrators due to financial struggles from high costs and reduced demand. The firm aims to find a buyer or investor to continue operations while still fulfilling orders. The company's international subsidiaries in Korea, the USA, and China remain unaffected.
Key Facts
- Denby has appointed administrators following financial pressure from increased costs and decreased demand.
- A notice of intention to appoint administrators was filed as a precaution on 11 March to protect from creditors.
- The firm has until 8 April to find a buyer, administrator, or enter liquidation.
- The #SaveDenby campaign sought public support to help the business, gaining significant engagement.
- Denby's CEO expressed concerns about saving the company despite efforts.
- Denby employs 600 people in the UK, with most working at its main site between Denby and Ripley.
- The company is continuing to trade while in administration, managed by FRP Advisory.
- International subsidiaries in Korea, the USA, and China will keep operating as normal.
