TRAIDCRAFT PLC ENTERS ADMINISTRATION
It is with great sadness that we share news about a fellow fair trade organisation, Gateshead-based Traidcraft, who have appointed Administrators today. One of the founding members of Fairtrade Foundation, Traidcraft is known for its deep commitment to Fairtrade, and innovation in the sector. As completely separate organisations, we have worked together in different capacities over the years and their presence in both the North East region and ethical sector will be sadly missed.
We owe a great deal to Traidcraft, as they identified the gap that existed in producer finance, out of which Shared Interest was born. Over the last 32 years, we have supported many producer organisations but that original need for finance has not diminished and Shared Interest continues to provide a lifeline to those unable to gain the working capital they need to operate their business. In fact, our overseas team now has more enquiries from producers than we are able to support with our current levels of Share Capital.
Shared Interest Managing Director, Patricia Alexander said: “Traidcraft has been an integral part of the Fairtrade story. Without its existence, many other ethical businesses in this region and beyond would not be here today. The organisation may be closing, but Traidcraft’s legacy will live on through the many producers it has supported and worked with over the last four decades.