The London TEA Company Limited (05094887): administration
- Status
- Administration ended
- Administration began
- 2012-11-09
- Administrators' firm
- Maven Capital Partners
- Formerly
- The Ceylon TEA Company Limited
- Incorporated
- 2004-04-05
- Location
- Manchester
- Industry
- 10390 Other processing and preserving of fruit and vegetables
Why it went into administration
- Competition / price pressure
- Rising costs / inflation
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Company was incorporated in 2004 and its principle activity was the wholesale of tea. The Company traded from short leasehold premises at Saunders House, 52-53 The Mall, London, W5 3TA.
The Company soon developed a reputation as one of the UK’s most prestigious tea companies, this reputation being burlt on its supply of high quality organic and Fair Trade certified teas. The Company sourced its products from a well-established and reliable supplier in $n Lanka and it had a range of both national and international customers.
The business traded profitably for a number of years and looked to expand into other countnes including the United States, Russia and China. This did not achieve a significant uplift in sales despite an increase in costs, and recently a number of the sales personnel employed in these locations were made redundant or placed on commission only agreements.
Administrators' statement of proposals (2012-12-17) · Companies House register