💨 Abstract

Typhoo Tea, a century-old British tea company, has filed for a notice to appoint administrators due to losses of £40 million last year. The company is seeking a rescue deal and is pursuing a sale of the business. The company's financial struggles can be attributed to falling sales, damage to its factory from intruders, and increased consumer preference for coffee over black tea.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖