A well-known pottery manufacturer in the UK faces potential financial collapse, endangering over 500 jobs. Denby Pottery Company and its affiliated businesses have taken steps to protect themselves from legal actions by creditors for 10 days as they seek an administrator to either rescue the company or sell its assets.
In their latest financial report for 2024, the company revealed a 17% decrease in turnover due to challenging global trading conditions. With a workforce of more than 500 employees, Denby was acquired by Hilco Capital in 2010, as reported by Derbyshire Live.
A Denby group spokesperson mentioned that despite exploring various options, they have not yet secured an investment partner aligned with the long-term vision of their beloved British brands. The group has filed a notice of intention to appoint administrators in the UK to allow time for assessing potential funding and restructuring solutions.
The news of potential administration has prompted a response from the GMB union, which represents Denby Pottery Group employees. Craig Thomson, GMB Organiser, expressed concern for the workers and called for government action to support the ceramics industry through challenging times.
Linsey Farnsworth, Labour MP for Amber Valley, emphasized the importance of safeguarding local jobs and supporting Denby during this uncertain period. She highlighted her efforts to liaise with company leadership, GMB representatives, and government officials to advocate for necessary assistance.
The Denby group spokesperson reiterated their commitment to supporting employees, customers, suppliers, and retail partners while collaborating with advisors to achieve the best possible outcome for all involved parties throughout the ongoing process.