Sara Davies, the entrepreneur and Dragons’ Den star, has found herself in the thick of a crisis, fighting to save Crafter’s Companion, the business she founded during her student days. After months of struggling, Sara has stepped up to rescue her company, which had been on the brink of administration. What’s more, she’s taking charge again as the CEO, a role that sees her back in the driver’s seat of the company she calls her “third child.”
In this blog post, we explore how Sara Davies navigated the challenging path to keep Crafter’s Companion afloat, the story behind its rise, and the steps taken to secure its future.
Crafter’s Companion: A Legacy Built from Scratch
Sara Davies began her business journey while studying at York University. Initially, Crafter’s Companion sold just one product: a home crafting envelope-making tool. Today, it’s a multi-million-pound business, and one of the leading names in the crafting industry. The company’s range includes crafting tools, supplies, and materials sold across the UK, Europe, and the United States.
What started as a simple university project has grown into a global enterprise, with retail outlets in Newton Aycliffe, Chesterfield, and Evesham, alongside its robust online presence. Crafter’s Companion is not just a business to Sara; it’s part of her identity. It’s the reason she describes the company as her “third child.”
A Troubling Turn: Crafter’s Companion Faces Administration
Unfortunately, even the most successful businesses can hit a rough patch. For Crafter’s Companion, the struggle came in the form of financial difficulties, which led to a working capital shortage. Despite receiving millions of pounds in investment last year, the company was not immune to market pressures, and its financial struggles escalated.
An investment firm stepped in, taking a significant stake and appointing a new management team to oversee the company’s future. However, this also meant that Sara lost control of the day-to-day operations of the business she had founded. She remained a minority shareholder, and her hands were tied as the company underwent aggressive growth strategies that didn’t always align with her vision.
By January 8, Crafter’s Companion was set to enter administration. This meant that unless something drastic happened, the company would cease to exist as it had. Jobs were on the line, and the future was uncertain for both the staff and the loyal customers who had helped the company thrive.
Sara Davies Steps In: The Rescue Plan
Enter Sara Davies. Refusing to let go of her business, she put together a rescue package aimed at preventing the worst-case scenario. Sara posted the news on her Instagram account, where she expressed her excitement to be back at the helm of Crafter’s Companion. The post was met with a wave of support from her followers, who were eager to see their favourite entrepreneur back in charge.
“I’m going to be pretty busy! So excited for the future and to be back at the helm of @crafterscompanion!” Sara shared on her social media, showing both determination and optimism.
The deal, which is known as a pre-pack arrangement, essentially means that Sara will purchase the company from its administrators and undertake a financial restructuring to restore Crafter’s Companion to financial health. This move allows the business to continue trading and safeguards the jobs of the 100+ employees at risk of losing their positions.
Key Aspects of the Rescue Package:
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Sara’s Return as CEO: The restructuring will see Sara return to her role as the CEO of Crafter’s Companion. Her experience, leadership, and deep connection to the company will be crucial as she takes the reins again.
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Financial Restructuring: The package includes the restructuring of the company’s finances, ensuring that working capital is in place to keep the business running smoothly.
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Jobs Saved: The deal ensures that the majority of Crafter’s Companion’s 100+ employees will keep their jobs. This is a significant relief for the team and a testament to Sara’s commitment to the people who have supported her business from the start.
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Company Continues to Trade: With the rescue package in place, Crafter’s Companion will continue to operate as usual, keeping its retail stores and online presence open. The restructuring will help bring the company back to stability.
Why Crafter’s Companion Is Important to Sara Davies
Crafter’s Companion is more than just a business to Sara. It’s been with her through thick and thin, from her humble beginnings at York University to becoming a household name in the crafting industry. Sara describes it as her “third child,” a nod to the amount of time, effort, and love she has poured into the company over the years.
For Sara, rescuing Crafter’s Companion is personal. It’s about securing the future of the company she started from scratch. Her passion for the business is evident in the hard decisions she’s had to make, and the financial restructuring is only the beginning of her efforts to ensure Crafter’s Companion remains at the forefront of the crafting world.
Looking Ahead: The Future of Crafter’s Companion
Sara’s return to Crafter’s Companion comes at a pivotal moment. The company is poised to make a comeback, thanks to the rescue package and the reorganisation of its finances. Moving forward, Sara plans to restore the company’s growth trajectory, build on its existing brand reputation, and continue expanding Crafter’s Companion’s range of products and services.
For Sara, the future is bright. Dragons’ Den fans will also be pleased to see Sara back on screens, bringing her business acumen to the popular BBC show. With her business expertise and relentless drive, there’s little doubt that Crafter’s Companion will thrive once again under her leadership.
Sara Davies’ Entrepreneurial Journey
Sara’s story is one of resilience, passion, and hard work. Her decision to start Crafter’s Companion while still a student was a bold one, and it’s a decision that has paid off. From a small idea to a large-scale business, her journey has been filled with triumphs and challenges. But one thing is certain—Sara Davies is a force to be reckoned with in the world of entrepreneurship.
As she takes back control of Crafter’s Companion, Sara’s fans and the crafting community will be watching closely to see how she leads the company through this new chapter. Her resilience and commitment to her employees, customers, and business are qualities that will ensure Crafter’s Companion continues to be a leading name in the crafting world.
Relevant Links for Further Reading:
- Sara Davies on Dragons’ Den
- Crafter’s Companion Official Website
- Business Rescue Solutions
- The Importance of Financial Restructuring
Photo credit: Daily Record
