Sara Davies is set to regain control of Crafter's Companion through a pre-pack insolvency deal after facing a downturn in sales and management challenges.
The proposed restructuring will allow Davies to significantly increase her shareholding and return as CEO, safeguarding about 100 jobs as part of a strategic refocus.
Despite experiencing growth during lockdown, Crafter's Companion faced difficulties due to inflation, rising raw material costs, and a decline in US sales, leading to deeper losses.
Critics of pre-pack insolvencies argue that they can undermine unsecured creditors, but Davies believes this approach was necessary to ensure the company's viability.
#crafters-companion #sara-davies #pre-pack-insolvency #business-restructuring #employment-preservation
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