Strictly Come Dancing star Sara Davies addresses huge loss: 'It's been a rough couple of years'

Dragons' Den star Sara Davies has confessed that it's been a 'tough couple of years' as her £37million arts and crafts company grapples with the cost of living crisis and Brexit aftermath.

The entrepreneur, who regularly offers financial aid and guidance to struggling businesses on the show, revealed that her online firm Crafter's Companion was £1million in debt last October and is expected to report further losses this month.

In an attempt to turn things around, the 39 year old mum of two is now bringing in the experts for a multi-million pound overhaul, including a new CEO with expertise in digital retail. Speaking candidly to the Mirror, she said: "I'm just going to be really honest, it has been a rough couple of years.

"And I kind of don't want to shy away from that because I always feel, especially with my role on Dragons' Den, I've got that responsibility of being a bit of a role model. I've had to work harder than I ever have in my life," the TV star continued.

Despite the challenges, Sara remains optimistic about the future of her company, which she founded 18 years ago. She noted that the business experienced a surge during the pandemic and the craft industry continues to thrive.

However, she acknowledged the difficulties they've faced, saying: "We've been navigating all the other difficulties the cost of living crisis, the raw materials cost increases, the energy crisis, war in Ukraine, plus the effects of Brexit."

Sarah is the entrepreneurial force behind Crafter's Companion and also familiar face on Dragons' Den, but she has just orchestrated a major shake-up at her Darlington-based firm. With Growth Partner stepping in as the majority shareholder, Sara retains her pivotal roles as owner, founder, and director.

Amidst this business evolution, she's also juggling her commitments to her Dragons' Den ventures and her fresh BBC series Making It. Not to mention, she's dedicating precious time to her family, including husband Simon and their two boys, Oliver, 10, and Charlie, 7.

The former Strictly contestant expressed her utmost trust in the new CEO David Stern and Growth Partner, saying: "It's a really exciting time for the company."

The Dragons' Den star chatted with The Sunday Mirror's Invite Only podcast.