A crafting company founded by Sara Davies, the entrepreneur and Dragons’ Den panellist, is set to appoint administrators as part of a pre-pack insolvency of the business.
Crafter’s Companion, which Davies, 40, turned from a start-up in her university bedroom into an international seller of paper craft, art and sewing products, is preparing to appoint administrators at Interpath as part of a fast-track process.
A notice of intention to appoint administrators was filed at the High Court in recent days by Growth Partner, the business’s majority shareholder.
As part of the restructuring Davies, who was a minority shareholder, plans to reinvest in the business and return as chief executive. The financial terms of the deal are not known.
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