Thomas Goode was founded in 1827 and provided the dinner service for Princess Diana's wedding to the then Prince of Wales. Photo: Steve Tulley/Alamy Stock Photo
Supplier of fine china and silverware to the royal family hit by HMRC winding up petition.
Thomas Goode was founded in 1827 and is backed by Sir Elton John appears before HMRC court over an outstanding tax bill.
A winding up petition is considered by creditors as a last resort to collect unpaid debts. This is the first step towards compulsory winding up, although the application can be withdrawn if the company is able to pay its debts.
An HMRC spokesperson said: “We take a supportive approach to dealing with clients with tax debts and making winding up applications only after exhausting all other options to protect taxpayer money.”
< img src="/wp-content/uploads/2024/05/ad14a267d5abb8d2750a5cc5dca85fa5.jpg" />Royal Warrant teapots sell for £2,243 each. Photo: Thomas Goode
Thomas Goode, which provided the dinner service at the wedding of the then Prince of Wales and Princess Diana, is expected to be working to clear the outstanding bill in the coming days.
A company spokesman said: “At this time We are currently in the final stages of refinancing the business and remain confident in our ability to meet all of our obligations.”
They added that Thomas Goode “will then continue our expansion plans overseas”, saying: “It is of course true that we have had a difficult few years, but with this new investment we look forward to celebrating our bicentenary in 2027 and further.”
Thomas Goode was the holder of a Royal Warrant from both Her Majesty Queen Elizabeth II and His Royal Highness the former Prince of Wales. Its teapots sell for £2,243 each and its tureens for £1,395.
Sir Elton, who is worth £450 million according to the Sunday Times Rich List, was a collector of the company's shares. China since 1990 and became an investor in 2019. He is believed to own 5% of Thomas Goode.
Thomas Goode investor Sir Elton John said he would “cry” if the company ever closed. Photo: REUTERS/Henry Nicholls
In 2019, the singer said: “There is no store like it in the world. This is an institution that I would cry for if it ever closed. I just love it. I am so excited to be involved in its future.”
Thomas Goode owed creditors around £5 million at the end of March 2022, sums that were due within one year, according to the latest accounts available. year. Its largest shareholder is entrepreneur Johnny Sandelson.
The company also took out a refund loan during the pandemic. The government scheme was designed to provide a lifeline for businesses that were struggling in the wake of the Covid crisis.
Thomas Goode has been under Mr Sandelson's control since mid-2018. At the time, he said, he was looking to bring the business into the 21st century.
The company launched its first website in 2018, having previously relied heavily on custom orders to outfit private jets and yachts.< /p>
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