The closure of a craft hub in Derbyshire has resulted in 10 job losses. The company, called Crafter’s Companion, was founded by Dragons’ Den star Sara Davies, who bought back the ailing firm from administrators on 7 January.
The premises in Barlborough, near Chesterfield, has been shut down, leaving the company’s Evesham base in Worcestershire as the firm’s only open outlet. The store has not been profitable “for quite some time”, according to Davies. The head office and warehouse are located in County Durham.
Davies, who was the youngest ever female dragon to appear on BBC One’s Dragons’ Den, said that it was “never easy making staff redundant”, and that the Chesterfield store had to close one way or another. She said that “the decision to close the loss-making Chesterfield store was taken by the administrators in preparation for the sale of the business to us” but that the actual closure happened after the acquisition. She added that she was “very sorry that these colleagues had to leave the family”.
The company retails craft supplies from its remaining premises and website, but revenue at the firm fell by 21% from £37.8m ($51.5m) in 2022 to £29.9m in 2023. Accounts for Crafter’s Companion Limited were overdue for the 2024 financial year before the administration.
Read the full article from The BBC here: Read More
