Historic British pottery firm Denby to appoint administrators
It is the second time Denby has faced administration in its 217 year history, the first was in 2009 when purchased by investment firm Hilco Capital.
An historic British pottery firm is set to appoint administrators as it grapples with soaring energy prices.
Derbyshire-based Denby, the 217 year old firm, said it was taking a “precautionary measure” to set in place a “period of stability” as reported by ITV.
The brand is popular the world over, with Denby, selling across the globe in territories including Asia and North America.
The company, despite seeing an increase in demand for products, cited "escalating costs of employment in the UK" and "soaring industrial energy costs" that have “squeezed the business financially”.
The brand which employs hundreds of people, underwent a massive growth for two consecutive decades into the early 2020s.
Burgess & Leigh, a Denby subsidiary company which makes ceramics at the Middleport Pottery in Stoke-on-Trent is thriving in the hospitality sector, as it “goes from strength to strength”.
A spokesperson said: “While Denby has explored a range of options, it has not yet been able to secure a strategic investment partner aligned with the long-term vision and values of its historic British brands much loved by their large global fan base.
"The search for a suitable partner will continue whether for the Denby Group as a whole or for the brands individually.
"As a precautionary measure, and to provide a period of stability while these options continue to be assessed, the Denby group of companies in the UK has filed a notice of intention to appoint administrators.
"This step offers short-term protection to allow the business to explore potential funding and restructuring solutions in an orderly manner.
"Denby and Burgess & Leigh are continuing to trade while all options for the future of the companies are being explored. International subsidiaries such as Denby Korea continue to trade as normal at this time.
"The priorities remain supporting employees, customers, suppliers, and retail partners while working with advisers to determine the best possible outcome for all stakeholders."
It is the second time Denby has faced administration, the first in 2009 when it was purchased by Hilco Capital.
The union representing Denby Pottery Group employees says it is supporting members.
Craig Thomson, GMB Organiser, said: “Denby pottery is a British icon, producing some of the world’s finest ceramics.
“This is a worrying time for workers across Denby. We are working closely with our members and reps on site.
“Britain’s ceramics industry is the envy of the world. We must now see urgent government action on energy prices to support the sector through this time of turbulence”.