Denby, the historic Derbyshire pottery manufacturer that has been crafting ceramics for more than two centuries, is fighting for its survival after taking the first steps towards administration.
The 217-year-old firm lodged a notice of intent to appoint administrators last week, with chief executive Sebastian Lazell acknowledging the company faces slim odds of continuing without new investment.
Earlier this week, Mr Lazell told journalists he was "trying to move heaven and earth" to rescue the business, but cautioned there may not "be a happy ending".
Rising energy and employment expenses have placed severe financial strain on the company, pushing it towards potential collapse.
Denby Group is at risk of closing down dozens of stores
|GETTY
The company's energy bills have more than doubled in recent years, with annual costs surging from approximately £1.25million before 2022 to between £2.5million and £3million currently.
Mr Lazell attributed the dramatic increase to the conflict in Ukraine, with subsequent tensions in the Middle East worsening the situation further.
The Denby Group operates three substantial gas-fired kilns around the clock to manufacture its pottery, making it particularly vulnerable to volatile energy markets.
In a statement issued last Thursday, the company said "escalating" employment costs combined with "soaring" energy expenses had "squeezed the business financially".
High streets have been hit by a wave of closures since the pandemic | PALATEST DEVELOPMENTS
The pottery chain is fighting for its survival
|DENBY GROUP
The company is launching a campaign under the banner SaveDenby, which Lazell said would focus on four key areas: highlighting the firm's financial difficulties, pressing the Government for support, boosting sales, and attracting more visitors to its pottery village.
Mr Lazell urged ministers to extend the British Industry Supercharger scheme to cover ceramics manufacturers without delay: "This is urgent and cannot wait for a long-time solution."
While such support would not provide instant cash relief, the chief executive argued it would significantly bolster investor confidence in the struggling firm.
Denby currently employs 600 workers, all of whom remain in their roles for now, though their futures hang in the balance.
Rising energy bills are putting further pressure on businesses
| PAHere is a full list of the 24 Denby Group stores at risk of closure:
Core outlet stores
- Antrim (The Junction Retail & Leisure Park)
- Ashford (Designer Outlet Ashford)
- Banbridge (The Boulevard)
- Braintree (Freeport Braintree)
- Castleford (Junction 32)
- Cheshire Oaks (McArthurGlen Designer Outlet)
- Cotswolds (Cotswolds Designer Outlet)
- Dalton Park (County Durham)
- East Midlands (McArthurGlen Designer Outlet)
- Gloucester (Gloucester Quays)
- Gretna (Caledonia Park)
- Livingston (Livingston Designer Outlet)
- Portsmouth (Gunwharf Quays)
- Peak Village (Derbyshire)
- Spalding (Springfields Outlet)
- Street (Clarks Village)
- Swindon (McArthurGlen Designer Outlet)
- Trentham (Trentham Shopping Village)
- York (McArthurGlen Designer Outlet).
Flagship / factory location
- Denby Pottery Village (Derbyshire).
Partner retail locations
- Colne – Boundary Mills
- Rotherham – Boundary Mills
- Shiremoor – Boundary Mills
- Walsall – Boundary Mills
- Dartington – Dartington Crystal Visitor Centre.
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