Administrators have been appointed to a historic UK pottery firm. Denby has struggled to attract investment, thanks to economic uncertainty, while heightened costs have pressure its operating margins.
Founded in 1809, Denby Pottery Company is a British manufacturer of pottery, named after the Derbyshire village where it is based. In business for more than two centuries, the company primarily sells hand-crafted stoneware tableware, kitchenware and serviceware products including dinner sets, mugs and serving dishes – while it has also added a variety of glassware products and cast-iron cookware to its offering over the years.
In spite of this storied past, however, the firm has fallen on harder times recently. Already rescued once in 2009, with investment firm Hilco Capital, recent developments leading to “tighter financial markets” had an effect on the firm’s ability to secure further funding.
Coinciding with a fall in demand, and an increase in energy costs which “squeezed the business financially”, the firm has now appointed administrators. With nine stand-alone and 13 concession stores at risk of closing, they will now explore the options for Denby’s assets.
Despite the appointment of administrators, Denby, and its subsidiaries of Burgess and Leigh will still trade, alongside the pottery firm’s international subsidiaries.
A spokesperson commented, “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.”
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