Spirit of Harrogate, the owner of UK spirits brand Slingsby, is to be placed in administration, its insolvency firm has confirmed.
The Yorkshire-based retailer cited “rising costs and difficult trading conditions in recent years” for the demise. The business had instructed Lewis Business Recovery & Insolvency to assist with placing the company into administration.
The business and its assets have been subsequently put up for sale.
Founded in 2014 by Marcus Black and Mike Carthy, Spirit of Harrogate has grown Slingsby beyond its original gin iteration to include flavoured SKUs and vodka, as well as canned RTDs.
“Unfortunately, the business has, like many in its sector, struggled with rising costs and difficult trading conditions in recent years,” said Lewis Business Recovery & Insolvency’s proposed administrator, Gareth Lewis. “Spirit of Harrogate is one of Harrogate’s iconic independent retailers and the Slingsby Gin product range is very well respected both locally and nationally.
“We are now actively marketing the business and assets for sale as a going concern in an attempt to preserve jobs and maximise the return for creditors.”
Earlier this week, UK peer Mermaid Gin hired Moët Hennessy veteran Jim Clerkin as its first CEO, citing intentions to grow its US foothold.
