Chesterfield shop shuts as Dragons’ Den star takes over company

A craft hub in Derbyshire has closed after the enterprise, which was based by Dragons’ Den star Sara Davies, went into administration.

The Crafter’s Companion retailer in Barlborough, close to Chesterfield, was shut by directors on 7 January, leaving 10 individuals redundant, however the Evesham base, in Worcestershire, has remained open.

The corporate was based by Ms Davies in 2005, whereas at college.

She mentioned she later bought the vast majority of it, however purchased it from directors on 7 January and is a significant shareholder once more.

She mentioned: “It is by no means straightforward making workers redundant, and I perceive why it has come as a shock to workers however there was no method this may very well be averted.”

The entrepreneur mentioned: “The choice to shut the loss-making Chesterfield retailer was taken by the directors in preparation for the sale of the enterprise to us.”

“The precise closure occurred after we acquired the enterprise,” she added.

Ms Davies mentioned the shop had not traded profitably “for fairly a while, and it could not stay a part of the Crafter’s Companion household going forwards”.

The corporate – which sells crafts provides – has a head workplace and warehouse in County Durham, a retailer in Evesham and the previous store in Chesterfield.

She mentioned: “I am proud that we’ve saved over 100 jobs within the North however I am very sorry that these colleagues needed to depart the household.”

Ms Davies added because the enterprise has been rescued from administration, saving greater than 100 jobs, it was “necessary to be sure that we focus our efforts” on the remaining retailer and web site, “to make sure Crafter’s Companion’s future success”.

She added: “I’ve invested my very own a refund into the enterprise, and alongside a brand new monetary accomplice who has additionally invested, I’m now a significant shareholder once more.”

Ms Davies turned the youngest ever feminine dragon to hitch PJ One’s Dragons’ Den and was awarded an MBE for providers to the financial system in 2016.

She obtain an honorary diploma from the College of York in 2024 in recognition of her “excellent contribution to society”.

The accounts for Crafter’s Companion Restricted for the 2024 monetary 12 months have been overdue earlier than the corporate went into administration.

The latest filed accounts present its income fell from £37.8m in 2022 to £29.9m within the 2023 monetary 12 months, a drop of 21%.