Major drinks brand to vanish from supermarket shelves after collapse

Wales Online

a day ago

Major drinks brand to vanish from supermarket shelves after collapse
Mighty Drinks, a milk alternative brand, is looking to appoint administrators for the brand and their intellectual property
Mighty Drinks could be found in Sainsbury's and major supermarkets
(Image: Tartezy via Getty Images )
A well-known beverages company stocked in supermarkets throughout the UK has entered administration, according to the firm. Mighty Drinks - which specialises in dairy-free alternatives - is seeking to appoint administrators for both the brand and its intellectual property.
According to The Sun, James Clark and Howard Smith from Interpath Advisory are examining potential options and hunting for prospective purchasers. Interpath's food and beverage lead explained that it needed futher investment which was not readily available.
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Tom Swiers, who leads food and beverage operations at Interpath, explained: "Unfortunately, this came at a point in the company's cycle where it required further investment."
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Once found in ASDA, the drinks company has not gone into administration
(Image: Alan Morris via Getty Images )
However, this funding was not coming in from 'typical investors'. For money-saving tips, sign up to our Money newsletter here
He added: "This was not forthcoming from typical investors in this space, nor was it attractive to typical special situations investors, given the relatively early stage of the company's development."
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Company directors started seeking funding when their plant-based milk products failed to achieve greater profitability, ultimately leading to the appointment of administrators.
The Yorkshire-based enterprise was founded by siblings Tom and Nick, who initially produced pea-based milk in their bathtub, reports Bristol Live.
The pair explained their concept arose from acknowledging widespread complaints about existing dairy alternatives, particularly regarding flavour and protein levels, believing "real progress should be better than the original".
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The duo aimed to "shake up the dairy alternative market."
This was during a period when non-dairy options were gaining traction as consumers moved away from traditional cow's milk.
Mighty Drinks has broadened their distribution of oat and pea beverages, along with dehydrated powders, across a range of UK retailers including Asda, Sainsbury's and Morrisons, as well as online.
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However, in recent times, Mighty Drinks has grappled with several hurdles such as escalating costs and a downturn in consumer spending.
The firm stated that their primary focus moving forward is profitability, rather than expansion.