One of the country's oldest tea makers has announced a restructure it hopes will "ensure a bright future" for the firm after a difficult year.
Typhoo Tea confirmed on Wednesday there is a new deal in place that will "secure further investment" in the business, which has its factory HQ in Wirral.
It comes after a difficult few months for the 118-year-old firm, as the Liverpool Echo reports.
Its 2019 accounts show pre-tax losses of £29.9m for the company owned by the Indian conglomerate - a large multinational group of businesses with a parent company - Apeejay Surrendra Group.
In February 2020 the site in Moreton underwent a restructuring that put 55 full-time and 21 temporary jobs at risk due to what a spokesperson said at the time was against "the backdrop of an increasingly challenging trading environment".
With its 2020 accounts overdue, the This Is Money website speculated that Typhoo Tea was being prepared for sale.
A spokesperson for Typhoo Tea told the Echo today: "We can confirm that following discussions between our shareholders regarding the share capital of Typhoo Tea Ltd, a new structure has been agreed.
"This agreement will secure further investment in the business to ensure a bright future for Typhoo Tea and its brands.
"More details will be confirmed once the agreement is finalised."
Launched in 1903, the famous brand began making tea bags in 1967.
In 1978, production moved to the Moreton site from Birmingham, where it now packs 16,000 tonnes of tea each year, after receiving it from Kenya and Argentina.
In 2005, the firm was sold by Premier Foods plc to Indian conglomerate Appejay Surrendra Group.
