True Skincare Limited - Liquidation

True Skincare Limited, a Taunton-based skincare company, entered liquidation on 19 June in the wake of “significant financial challenges”.

The company was founded in 2018 by Emma Thornton, who has an extensive history in the beauty industry.

In 2021, Ms Thornton appeared on Dragon’s Den and received investment offers from four of the five Dragons. She struck a deal with Deborah Meaden, but withdrew from the deal after the show.

The company gained widespread recognition from the appearance, and the rapid expansion of the business required additional investment, leading to an increase in operational costs and the decision to bring manufacturing and fulfilment in-house.

However, the unexpected financial difficulties of a key trade partner, exacerbated by the wider economic impact of the Russian-Ukraine conflict, placed a significant strain on the company’s cash flow. 

Gareth Buckley and Stacey Phipps of The Insolvency Company were appointed joint liquidators.