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A spokesperson for the company said that the Thornton brand will continue to be sold in supermarkets and other retailers, and its factory in Alfreton, Derbyshire will produce chocolate for the international market.
The brand was acquired by Ferrero for 112 million pounds ($154 million) in 2015, when Thornton had 242 stores in the UK and Ireland. The company reported a pre-tax loss of £35 million in August 2020 and is the latest well-known high street brand to become a victim of the Covid crisis, which was blocked during the peak hours of Easter, Christmas and Valentine’s Day .
Co-founder of Savings Platform, Analyst Kevin Mountford (Kevin Mountford)
A company statement said Thornton condemned the dynamic changes in the high street, the decision to switch to online retail and the pandemic.
Thornton's retail director Adam Goddard (Adam Goddard) said. "
Thornton said that online sales continued to perform well, with sales last year increasing by 71% over the previous year.
This long-established chocolate company was founded in Sheffield in 1911 by Joseph Thornton under the slogan "It has been a chocolate heaven since 1911." It floated on the stock market in 1987, but has since struggled with international competitors and has lost more than 100 million pounds since Ferrero took over in 2015.
Regarding the 600 employees at work risk, the company said that if they successfully apply for vacancies at Thornton’s Alfredon or Greenford factories in West London, they will receive relocation support.
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