The British Honey Company PLC - administration

The British Honey Company PLC, a publicly-listed Oxfordshire producer of honey-based products including craft gins, has resolved to file notice of its intention to appoint administrators. In October, the company announced a review of its strategic and financing options following a warning that its 2022 financial results would fall below expectations. In December, the company secured a £750,000 loan, but advised that further capital would be required. Last week, the company stated that finding additional funding “has proved extremely challenging, with no offer of funding support being forthcoming to date”. The company has advised that it intends to appoint FRP Advisory as administrators. Tusmore Collection Limited has a registered charge against the company.