As reported on thisismoney.co.uk, and confirmed by brand founder Freddie Garland, Freddie’s Flowers, the online subscription service which raised over £50million of funds in July 2021, is instigating a series of redundancies across all divisions.
The company, which saw a pandemic driven boom in sales from some £26 million to over £45m, still has plenty of cash in the bank but with losses rising from £334k to over £4 million, action was clearly needed especially as staffing numbers had risen from 96 to 225 employees.
The process started in early July and is expected to be completed in mid-August as the company sees if it can deploy people in other areas.
The news however echoes the story at other leading subscription businesses, like Netflix, who are also seeing a drop in subscribers as costs rise and consumer confidence drops and emphasises the need to both constantly monitor and have an ever changing range.
With this increased demand there has never been a better time to stock and celebrate British grown. Don’t be shy about highlighting your UK-grown stock.
