Sara Davies Rescues Crafters Companion in Pre-Pack Deal

Sara Davies has successfully acquired Crafters Companion, the company she founded, from administrators in a strategic pre-pack administration. The purchase came on the heels of the company being placed into administration due to declining sales and margins, exacerbated by the cost of living crisis and inflation. While Davies had maintained a figurehead role during the company's struggles, her primary focus had been other media projects, such as Dragons Den and work with the BBC. With Crafters Companion continuing operations and retaining most of its staff, Davies has now taken the helm with the backing of a silent partner. The company is focused on restructuring and cost reduction in a bid to reclaim customers lost to new market entrants like Temu, a competitor offering crafting supplies at significantly lower prices. With the crafting market becoming increasingly competitive, the turnaround effort led by Davies will face challenges in enticing customers back and regaining market strength.