The future of Crafter’s Companion, the multi-channel retailer of craft design packs and crafting materials, has been secured following a sale of the business and certain assets to companies jointly owned by Sara Davies, the founder of Crafter’s Companion, and Modella Capital, the specialist retail and consumer investment boutique.
James Lumb and Howard Smith from Interpath were appointed joint administrators to CCL Realisations 2025 Limited, formerly Crafters Companion Limited, on 7 January 2025.
The Company had experienced challenging trading conditions for some time, which were exacerbated by Covid-driven supply chain issues and the insolvency of a key teleshopping partner. With working capital coming under increasing pressure, the directors sought to explore their strategic options, including exploring options for sale and refinancing.
With a solvent solution not possible, the directors took steps to seek the appointment of administrators. Immediately following their appointment, the administrators sold the business and certain assets to three entities owned jointly by Sara Davies and Modella Capital (“the Purchaser”).
As a result of the transaction, 134 employees will transfer to the Purchaser. Regrettably, the Company’s store in Chesterfield is not part of the transaction and as such, will close, with ten members of staff made redundant. The joint administrators will supporting those impacted by redundancy as a matter of priority.
James Lumb, managing director at Interpath and joint administrator, said: “Crafter’s Companion is a well-known business with a loyal customer base, so we are pleased to have secured this transaction which will enable it continue with new investment. We wish Sara and the wider team all the very best for the future.”
