Thorntons

Thorntons is a British chocolate brand established by Joseph William Thornton and his father in 1911. The company has been owned by Italian firm Ferrero since 2015, in a sale at £112m.[3] A net loss in its annual report of 2016 was −£30.8 million, a result prompting a drop in staff and shops nationwide. Since Cadbury became part of a wider food group, Thorntons has the largest confectionery-only parent company in Britain. It has established toffee and fudge lines but the group shifted its specialism, after post-war rationing ended into chocolate especially its wide Continental, Swiss and Belgian chocolate sets which form the bulk of sales.[2][4]

Thorntons Ltd
Limited company
Industryfood industry 
FoundedSheffield, West Riding of Yorkshire, England (1911 (1911))
FounderJoseph William Thornton
HeadquartersAlfreton, Derbyshire, England
Number of locations
 87 (plus 109 franchise shops and 6 cafes)[1]
Revenue £135 million (2018)
- £38.3 million (2018)
- £22.9 million (2018)
OwnerFerrero
Number of employees
 2,634[2]
Websitewww.thorntons.co.uk

Through the 2017–18 financial year, sales and production increased; a few shops have been opened and some diversified into cafés.[2] Reducing its need for fixed capital kept in its own shares, as is common for subsidiaries, the company reverted to a private limited company[5] in English corporate law in November 2016 receives notices in group to its registered office in Greenford, outer West London, retaining its main office and production in an old town in Amber Valley, between Derby and Sheffield.

History

The Thornton family
This outlet plays on the brand's long history being in a small, decorative tram shelter in Gunwharf Quays, Portsmouth, Hampshire.

Thorntons began in Sheffield in 1911; a business started by Joseph William Thornton who co-opened the company's first shop at 159 Norfolk Street. His son Norman became the manager at the age of 15. Peter Thornton (grandson of the founder) served as Thorntons chairman but was dismissed in 1987.[6]

2000s – trading difficulties

After rapid expansion the 2009 results showed turnover increasing to £214.8 million, but operating profit decreasing to £7.94 million. A perennial seasonality in sales disappointed strategists and employees – 35% of sales were in the seven-week period before Christmas and 10%: shortly before Easter Day. The scale of impact of this on manufacturing and service are more pronounced than the average in the food sector, necessitating temporary staffing.

In January 2011, Jonathon Hart joined the business as CEO. Following a resultant strategic review in June 2011, Thorntons announced it would close between 120 and 180 of its shops.[7][8]

In June 2015 it was announced that Italian chocolate maker Ferrero would buy Thorntons for £112 million.[9] Thorntons Ltd are 75% owned by Ferholding UK Ltd in turn controlled by Giovanni Ferrero (who holds over 50% of voting rights).

Hollow and solid cats, rabbits and seasonal shapes by the company often have fine white or dark chocolate details

Publicity

Main advertising slogans:

  • "Chocolate Heaven Since 1911"[10]
  • "It's the Thorntons that counts"[11]

On 3 April 2007, Thorntons set up a very rare edible billboard: exceeding 4 metres length; 14.5 by 9.5 ft (4.4 by 2.9 m) and 390 kg (860 lb) – it was framed outside their Covent Garden, London shop – and eaten within three hours.[12] The structure included 10 chocolate bunnies, 72 giant chocolate eggs and 128 chocolate panels, each weighing 2 kg (4.4 lb). The promotion sought to regain lost custom to competition and a move away from deluxe chocolate gifts in recent festive sales.

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See also

References
  1. Official Store Locator Thorntons plc. Retrieved 16 May 2020
  2. A minority of sales is in novelties, decoration and café outlet remittances.Full accounts made up to the 31st August 2018 Thorntons Ltd Annual Report 2018|Companies House. Retrieved 16 May 2020
  3. Sarah Butler. "Thorntons bought by Ferrero for £112m". The Guardian.
  4. Clark, Andrew (7 May 2011). "Thorntons: why the chocolate-maker has gone into meltdown". The Observer. The Guardian (theguardian.com). Retrieved 11 July 2015.
  5. [https://beta.companieshouse.gov.uk/company/00174706 Companies House - beta development site at .gov.uk - full company details of co. no. 00174706
  6. "Thorntons – My Life in the Family Business". tomahawkpress.com. Retrieved 17 August 2017.
  7. Danaher, Tim (28 June 2011). "Thorntons to slash number of company-owned stores". Retail Week (retail-week.com).
  8. "Thorntons PLC" (Strategy Review). 28 June 2011. FE Investegate (investegate.co.uk). "for Private Investors only".
  9. Farrell, Sean (22 June 2015). "Thorntons bought by Ferrero for £112m". The Guardian. Retrieved 22 June 2015.
  10. "Chocolate Heaven Since 1911". Retrieved 17 August 2017.
  11. "Bringing sweet news to Thorntons". Retrieved 17 August 2017.
  12. "Shoppers eat chocolate billboard". BBC News. 3 April 2007. Retrieved 14 May 2019.
Citations
  • The Strategy Report of Thorntons plc, Birmingham Business School, 2007
  • Thorntons, My Life in the Family Business by Peter Thornton, Published by Tomahawk Press, October 2009 ISBN 978-0-9557670-3-6 www.tomahawkpress.com
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