The firm filed a notice of intention (NOI) to appoint administrators earlier this month and has now called in advisory firm Kroll.
Meanwhile, FMCG firm Supreme has confirmed that it is working on a deal to acquire Typhoo out of administration.
“Whilst discussions with the administrators are now at an advanced stage, there can be no certainty that the potential acquisition will be completed,” a Supreme spokesperson said.
“No final terms of the potential acquisition have been agreed but the company can however confirm that any potential offer would be funded by Supreme’s existing bank facilities.”
Supreme supplies a range of products including Duracell batteries and Elf Bar vapes to major retailers throughout the UK.
Food Manufacture has reached out to Kroll for comment.
Losses mounted at Typhoo
The news comes off the heels of Typhoo reporting a £38m loss for the year ended September 2023.
Typhoo said that these results were “dominated” by exceptional costs of £24.1m, a portion of which is associated with one-off costs related to its transformation plan.
The year in question also included an incident that saw equipment at Typhoo’s Moreton facility in the Wirral damaged, which delayed the planned sale of the site until June 2024.
The firm is currently majority-owned by private equity firm Zetland Capital.
