Mehta clarified that while some UK operating entities have been wound up or placed into liquidation, the holding company and brand-owning entities remain intact. “East India Company (EIC) is very much alive,” Mehta told PTI. He said the business is undergoing restructuring with new investor support and aims to revive operations in the future. He attributed the company’s financial troubles to rising retail costs, shifting consumer habits, and the long-term impact of the COVID-19 pandemic on luxury retail.
The original East India Company was founded on December 31, 1600, under a royal charter granted by Queen Elizabeth I. It began as a joint-stock trading company dealing in spices, textiles, tea, and other goods from India and…