The pottery brand founded by eponymous designer Emma Bridgewater cut jobs as it sank further into the red during its latest financial year.
The business, which is based in Stoke-on-Trent and backed by BGF, has posted a pre-tax loss of £4.4m for the 12 months to 27 April, 2024.
The loss comes after the company also posted a pre-tax loss of £1.3m in the prior 12 months.
Newly-filed accounts with Companies House have also revealed that Emma Bridgewater reduced its headcount in the year from 469 to 409 while its turnover fell from £37.7m to £31.5m.
The last time Emma Bridgewater reported a pre-tax profit was the £1.1m it achieved in the 12 months to the end of April 2022. At the time, its sales stood at £33m.
Emma Bridgewater said the 16 per cent decline in its turnover was “primarily driven by reduced sales across e-commerce and wholesale channels.”
The firm added that the fall was partially offset by growth in its performance in physical retail stores.
Emma Bridgewater eyes ‘significant improvement’
A statement signed off by the board said: “In response to these trading conditions, the company implemented operational restructuring including workforce optimisation and reduced production schedules to better align with demand patterns.
“The directors have implemented comprehensive measures to strengthen performance and position the business for future sustainable, profitable growth.
“Current performance for the first eight months of FY25 is aligned with management expectations and represents a significant improvement on FY24.”
BGF provided the company with an additional investment of £2.2m in May 2024.
It first backed the firm in 2020 with an £8m cash injection.
Emma Bridgewater founded her business in 1985 and is one of the largest pottery manufacturers based in the UK.