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 … Read more