London: The East India Company, the British trading corporation that once controlled large parts of India and paved the way for colonial rule, has shut down once again. This time, the shutdown marks the end of its modern avatar as a luxury retailer in London.
The original company effectively ceased operations over 150 years ago. After the 1857 Indian Rebellion, also known as the Sepoy Mutiny, the British Crown assumed control of its territories in 1858, beginning the era of direct colonial rule under the British Raj.
The East India Company’s legacy remains deeply controversial. While it transformed global trade networks, it is widely associated with economic exploitation, violence and policies that contributed to widespread suffering in India and other parts of Asia. The Great Bengal Famine, often linked to colonial-era policies, remains one of the darkest chapters of that period.
Indian-led East India Company
In 2010, Indian entrepreneur Sanjiv Mehta acquired the rights to the East India Company name after a long acquisition process that began in the early 2000s. The move drew global attention, with many seeing symbolic value in an Indian businessman owning a name tied to colonial domination.
Mehta launched a 2,000 sq ft luxury store in Mayfair, London, selling premium teas, chocolates, spices and confectionery. He positioned the brand alongside heritage retailers such as Fortnum & Mason.
“The fact that an Indian now owns the East India Company means that the negative has become a positive. The historic East India Company built itself on aggression, but today’s East India Company is about compassion,” Mehta told The Guardian in 2017.
East India Company goes bankrupt
However, the revival has now ended. The East India Company Limited appointed liquidators in October 2025, according to The Sunday Times. Reports said the firm owed more than £600,000 to its parent group registered in the British Virgin Islands, nearly £194,000 in taxes and over £163,000 to employees.
Several related entities bearing the “East India” name have also been dissolved. The company’s website is no longer operational and its New Bond Street store in Mayfair is reportedly vacant and available for rent. A linked company, East India Company Collections Limited, has also faced a winding-up petition from creditors.