KPMG’s Richard Hill and David Crawshaw have been appointed as administrators
to international coffee bar and food chain operators Coffee Republic.
The coffee seller has a total of 187 bars in the UK as well as a further ten
outlets in regions such as Turkey, Romania, Ireland and Saudi Arabia.
Hill said: ‘The recession is hitting discretionary spending on the high
street and some of the less profitable bars with expensive leases have
Coffee Republic has a strong brand and expects interest in the profitable
parts of the businesses, he said.
‘We will be doing whatever we can to find a buyer for the residual business
as a going concern as quickly as possible, so interested parties will have to be
prepared to move fast.’
Coffee Republic, which was founded in 1995, employs a total of 153 staff with
26 working in the London head office.
The holding company Coffee Republic plc is not in administration.
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