Tea sales in the UK have been declining for years, with drinkers switching to coffee, energy drinks and bubble tea

• Business live – latest updates

Typhoo Tea is to call in administrators, as Britain’s oldest tea brand struggles with more than £70m in debt amid a sales slump in the highly competitive drinks market.

The 121-year-old company has filed a court notice to appoint administrators EY to explore rescue options, in a bid to give it some breathing space from creditors and to try to pay back its debts.