In November, administrators were appointed to York Cocoa House Ltd, which is based in York City Centre and trades as York Cocoa Works.
Founded by Sophie Jewett in 2011, the business makes and sells chocolate, has a chocolate-focussed cafe and also runs chocolate making workshops. It went through financial difficulties due to the pandemic, lockdowns, rising costs, and a quadrupling of its energy bill. A vital chocolate making equipment failure earlier this year and ineligible for many Covid grants due to rateable value also added to the troubles.
The company entered a Corporate Voluntary Arrangement (CVA) in 2020, but it ended in November due to obligations to HMRC not being met concerning ‘filing requirements’. A Supervisors Final Report noted the claims of unsecured creditors totalling £644,532, with the majority being from the fellow directors.
The business and assets of York Cocoa House were sold to YCW Trading via a prepack Administration on November 15. All employees have been retained by the new business, which is now well positioned for the Christmas trading period and to fulfil the chocolate making experiences that have already been booked and paid for.