KPMG Beanscene sale saves 130 jobs

Administrators from KPMG Restructuring have sold Beanscene, the ailing coffee
house chain, to Fifi and Ally, securing 130 jobs.

Blair Nimmo, head of restructuring for KPMG in Scotland and joint
administrator, said: ‘I am delighted that we have managed to sell the business
as a going concern. Not only has this saved 130 jobs, but the sale also ensures
that existing customers will continue to be serviced and that the landlords and
suppliers will have ongoing business.’

The sale will see Fifi and Ally, a restaurant and retail company, treble its
turnover to £6m through eight branches in Glasgow, four in Edinburgh and one
each in Stirling, St. Andrews, Hawick and Ayr.

‘Since our appointment on the 24 July 2008, the commitment on the part of
employees, customers, landlords and suppliers in working with us to preserve the
business has been exceptional,’ added Nimmo. This sale represents a fantastic
result for everyone involved, and we would like to wish the business every
success in the future.’

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