Typhoo Tea on the brink of administration, reports say
It follows a decline in sales and a break-in at its factor on Merseyside
Typhoo Tea, one of Britain's oldest tea firms, is reportedly on the brink of administration, according to reports.
The Telegraph said it has filed notice that it intends to appoint administrators after finding itself in £70 million debt.
It follows a high-profile break-in at its factory on Merseyside, and a decline in sales due to customers switching to other brands.
Typhoo Tea was founded in Birmingham in 1903 and was previously one of the best selling brands in the country.
But it has found itself facing stiff competition in recent years, while also dealing with Brits cutting down on the number of cups they drink.
It is understood the firm is exploring options for a rescue deal.