Sara Davies in Crafter's Companion rescue bid

A North East entrepreneur and celebrity business figure is set to rescue the venture that launched her career.

Dragons’ Den star Sara Davies has agreed a deal to once again lead Crafter’s Companion. 

It is understood the move has saved the majority of the business’ staff.

Ms Davies founded the hobbyist operator from her student bedroom while studying a management degree at the University of York.

Having begun with an envelope maker, the venture quickly expanded from offices above Sara’s family’s decorating store in Coundon, County Durham, to headquarters in nearby Newton Aycliffe, with demand across the UK matched by clamour in Europe and the US.

However, the business struggled in recent years, despite an injection of cash from investor Growth Partner that restructured its management team and left Ms Davies a minority shareholder.

And with directors set to appoint administrators, Ms Davies has stepped in, returning as chief executive and promising to increase her investment in the business.

She said: “Crafter's Companion, as everyone knows, means a huge amount to me, and to have this chance to bring the company back on track is an opportunity I  grabbed with both hands. 

“There’s no secret the company was struggling post-pandemic, and its owners tried to pursue an expansion strategy at a time of real economic uncertainty, which was unfortunately unsuccessful.
 
“However, looking to the future, we have a new financial structure in place which means we have managed to save the large majority of jobs in the company, in particular in the North East of England, and ensure we continue to trade as a going concern.

“This means a lot to me.

“To be going back into the business alongside the fantastic team at Crafter’s Companion is an opportunity I couldn’t pass up. 

“Consumer interest in crafting has never been stronger, and with customers of every age recognising the wellbeing and mental health benefits of creating beautiful things, I am looking forward to helping drive the strategy of the company again.”

During its boom period in the late 2010s, Crafter’s Companion opened new headquarters in a former Holiways Ford car showroom on Aycliffe Business Park, which complemented offices with a café and space for crafting workshops and classes.

It also expanded into a Chesterfield-based Dobbies Garden Centre outlet, and moved into Evesham’s Valley Shopping Village, on the outskirts of Worcester, and a concession in a Boundary Mills store near Burnley.

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