Bloom & Wild turned a loss after customers stopped splashing out on flowers due to the cost of living crisis.
The company – which sends bouquets in boxes that fit through a letterbox – saw its turnover fall by more than a fifth to £83 million in the year to April 2023.
According to the company’s latest accounts, losses of around £800,000 were recorded, compared with a profit of £2.3 million in 2022.
Bloom & Wild got a huge boost during the pandemic when in-person shopping for gifts was not allowed, but sales have since fallen.
Many of the company’s bouquets cost more than £30, but the company has introduced cheaper versions.
Struggle: Co-founder and boss Aron Gelbard (pictured) said the second half of 2023 would have been much better as spending on marketing, among other things, has been limited
Bloom & Wild also sells other items that can be sent by post, including brownies, chocolates, cookies and candles.
The company has expanded in recent years and now sells under the Bloom & Wild brand in Britain, Germany, the Netherlands and Ireland. The company owns two other companies in Europe, which have yet to report their results.
Co-founder and boss Aron Gelbard told The Mail on Sunday that the second half of the year had been much better, because spending on marketing, among other things, has been limited.
Gelbard, 41, a former management consultant, founded Bloom & Wild in 2013 with fellow entrepreneur Ben Stanway.