Historic Derbyshire pottery firm Denby Pottery Company has filed a notice of intention to appoint administrators as a precautionary measure while it seeks investment partners
A renowned UK pottery manufacturer is at risk of going under, putting more than 500 jobs at risk.
Denby Pottery Company, along with its associated enterprises, issued the notice on Wednesday (March 11), shielding the firm from legal action by creditors for 10 days whilst it makes arrangements for an administrator to be brought in to salvage the business or offload its assets.
In its latest financial results for 2024, the company disclosed that turnover had fallen by 17 per cent during a “difficult trading year globally”. The group has more than 500 staff on its books and was most recently acquired by restructuring firm Hilco Capital in 2010, reports Derbyshire Live.
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A spokesperson for the Denby group commented: “Whilst Denby has explored a range of options, it has not yet been able to secure a strategic investment partner aligned with the long-term vision and values of its historic British brands much loved by their large global fan base. The search for a suitable partner will continue whether for the Denby Group as a whole or for the brands individually.”
“As a precautionary measure, and to provide a period of stability whilst these options continue to be assessed, the Denby group of companies in the UK has filed a notice of intention to appoint administrators. This step offers short-term protection to allow the business to explore potential funding and restructuring solutions in an orderly manner.”
The potential administration news has sparked a reaction from the GMB union, which represents employees at Denby Pottery Group.
Craig Thomson, GMB Organiser, stated: “Denby pottery is a British icon, producing some of the world ‘s finest ceramics. This is a worrying time for workers across Denby. We are working closely with our members and reps on site. Britain’s ceramics industry is the envy of the world.
“We must now see urgent government action on energy prices to support the sector through this time of turbulence.”
Linsey Farnsworth, Labour MP for Amber Valley, expressed her focus was on “trying to ensure the stability of this vital local employer and protecting the livelihoods of its workforce”.
“I have already held an urgent meeting with Denby’s leadership to discuss the current situation and determine how I can best support through this process,” she said. “I have also been in contact with GMB union representatives to ensure that the voices of the employees are heard during this period of uncertainty.
“Having previously raised the specific pressures facing the ceramics sector, particularly industrial energy costs, both in Parliament and directly with ministers, I will continue to advocate for the support Denby needs at a ministerial level.
“I am actively engaged with the Treasury and the Department of Business and Trade. Denby remains a world-class, viable manufacturer that continues to trade and meet demand.
“I am acting as a direct link between the company and the Department for Business and Trade to ensure every possible avenue is explored to secure a positive outcome for Amber Valley.”
A spokesperson for the Denby group further stated that the firm’s main focus was “supporting employees, customers, suppliers, and retail partners whilst working with advisers to determine the best possible outcome for all stakeholders” during the ongoing process.
