Distillery on the verge of administration
A Leicestershire-based distillery whose parent company collapsed earlier this week has posted its own notice of intention to appoint administrators (NOI).
Union Distillers produces a range of gins, vodkas and rums, as well as an absinthe and an espresso vodka liqueur, under the “Two Birds” brand.
The Market Harborough firm was acquired by Oxfordshire producer British Honey Company in 2021.
In a statement issued on Tuesday, British Honey revealed it had failed to secure the funds it needs to remain afloat following a protracted period of financial difficulty.
The firm, which has suspended trading on Aquis, said it had made “significant costs savings” but requires further funding to avert disaster.
At the time, it was unclear what the news would mean for Union Distillers, but it too appears to be in danger.
Companies are permitted to post two NOIs – which each protect them from creditors for a period of ten days – before either carrying on trading or calling it a day.