Crafter's Companion, the craft supplies company founded by former Dragons' Den star Sara Davies, has entered liquidation, resulting in the loss of nearly 60 jobs in the North East. The Newton Aycliffe-based business is being taken over by its largest customer, Gemporia, an online jewellery retailer based in Worcestershire.
Liquidation and Job Losses
The deal has led to the liquidation of Crafter's Companion and the closure of both its head office and its single store. Employees of the company's trading arm have been made redundant, with 42 people losing their jobs at the headquarters and 16 at the store. The Crafter's Companion brand name and its website are not part of the liquidation and will continue to trade as normal, with Sara Davies remaining closely associated with the business.
Background and Rescue Efforts
The liquidation marks the end of a turbulent period for the business, which Ms Davies returned to at the end of 2024 when it was close to collapse. Working with investment group Modella, she kept the firm going and saved most of its jobs. A second deal in 2025 saw Modella sell its holding to Maven Capital Partners, with Ms Davies increasing her shareholding. She later stepped back from day-to-day running but remained associated, increasing her TV work including The Big Idea Works, as well as taking business roles with Avon and Not on the High Street.
Future Plans and Statement
It is hoped that, once the merger has completed, an office will be established in the North East to create new jobs. Ms Davies said: “The agreement with Gemporia means that Crafter’s Companion will continue to operate and our loyal customers can continue to be part of our community. It’s no secret that I have a strong emotional attachment to the brand which I founded when I was still a student and I am pleased that it will still exist and that I will still be involved in the brand’s future after a couple of turbulent years.”
She added: “Losing staff who have worked so hard for the business is a terrible thing on a personal level, but we really had no choice. I met the staff individually to explain that this was the only realistic way to rescue the business. I am proud of the jobs we have created in the North East, and the training and opportunities that our team have enjoyed while working for the brand. Once the merger with Gemporia is completed, our hope is to establish an office in the North East. This means that new jobs will be created, and Crafters Companion will continue to be closely associated with the region that I call home.”
