Sarah Raven, together with a group of investors, has acquired the business assets and IP from the administrators of Sarah Raven Kitchen Garden Ltd in a pre-pack deal which secures a significant number of jobs. Following the boom delivered by the COVID-19 lockdowns, the business experienced a steep decline in its sales. Additionally, it cited financial pressures, including increased national insurance costs, unseasonal weather, as well as an unexpected VAT demand from HMRC, which is currently in dispute.
Sarah Raven said: “The past few years have been challenging for British horticultural retailers, suppliers, and entrepreneurs, and despite significant effort, this restructure is necessary to ensure the ongoing viability of SarahRaven.com.”
Alison Doherty, CEO and Gavin Street CFO will leave the business. Stuart Hudson becomes managing director, Dominic Rose becomes executive chair, with Jake Newbould continuing as marketing director, with Sarah Raven as creative director.
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