One of the UK's favourite tea brands on the brink as Brits switch to coffee

An 120-year-old beverage concern is preparing to participate medication amid declining income (Image: Getty)

One of Britain’s oldest tea companies, Typhoo, has failed a tribunal announcement and is preparing to participate medication aft 120 years successful business.

The company’s fiscal struggles were highlighted successful its latest figures, which showed that losses escalated from £9.6 cardinal to £38 cardinal successful the twelvemonth ending September 2023.  

During the aforesaid period, income dropped from £33.7 cardinal to £25.3 cardinal - a percent alteration of conscionable nether 25 percent. 

In a connection to Sky News, main enforcement Dave McNulty said: "This enactment has been taken to alteration america to prosecute a merchantability of the business. A further connection volition beryllium issued successful owed people with further information."

Typhoo’s struggles hap amid changing user preferences successful the UK, arsenic information has projected a diminution successful beverage depletion by 2028 arsenic Brits progressively favour coffee, vigor drinks and trending drinks similar bubble tea. 

The brand, which was founded successful 1903, is 1 of Britain's large brands alongside PG Tips and others. (Image: Getty)

The brand, which was founded successful 1903 by Birmingham grocer John Sumner, stands alongside PG Tips, Tetley’s and Yorkshire Tea arsenic 1 of Britain’s large beverage brands. 

Typhoo suffered a devastating setback successful August 2023 erstwhile trespassers broke into its erstwhile Moreton mill successful Merseyside. Extensive harm was caused, rendering important amounts of beverage unusable and disrupting lawsuit orders. 

The incidental contributed to £24.1 cardinal successful exceptional costs for the company.  

Its ownership changed hands successful 2021 erstwhile backstage equity steadfast Zetland Capital acquired it from Indian conglomerate Apeejay Surrendra Group, which had purchased the concern from Premier Foods successful 2005.

The institution is not yet successful administration, Mr McNulty stressed, describing it arsenic "an on-going confidential process," with the filing providing Typhoo impermanent extortion portion it explores its options. 

Industry expert Mintel projects an 8 percent diminution successful beverage depletion betwixt 2023 and 2028. (Image: Getty)

In a federation of stereotypical beverage drinkers, java has present go much fashionable than beverage successful the UK. 

Industry expert Mintel projects an 8 percent diminution successful beverage depletion betwixt 2023 and 2028, arsenic British consumers progressively favour coffee, vigor drinks, and trending beverages similar bubble tea.

In a abstracted study, the Statistica Global Consumer Survey recovered that 63 percent of Britons portion java regularly, portion present lone 59 percent regularly portion tea. 

It is believed that the UK drinks astir 98 cardinal cups of java a day, a 28 cardinal cupful summation from 2008. The mean idiosyncratic successful the UK drinks 2 cups of java a day.