Leicestershire distillery slips into administration

A Leicestershire distillery which has been teetering on the verge of administration for around a month has finally succumbed and appointed FRP Advisory to handle its affairs.

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 March, British Honey revealed it had failed to secure the funds it needed to remain afloat after becoming increasingly financially unstable. The British Honey board expects the company to follow its subsidiary by calling in administrators this week.

In a further blow to both businesses, British Honey’s AQSE corporate adviser and joint broker, finnCap ltd, has announced its intention to resign “with immediate effect” – meaning the company’s shares will be withdrawn and cancelled from trading on AQSE unless a replacement is appointed. Joint broker Stanford Capital Partners is also set to part ways with the stricken firm.

British Honey says it has “no current intention” of appointing a replacement corporate adviser, casting further doubt over the future of its Harborough-based subsidiary.

Geoff Rowley and Simon Stibbons, partners at FRP, were appointed joint administrators of Union Distillers Limited on Friday (21 April).

TheBusinessDesk.com has contacted FRP Advisory for comment.