BusinessBusiness RecoveryCoffee Republic brings in KPMG administrators

Coffee Republic brings in KPMG administrators

International coffee bar appoints administrators but hopes to be sold as going concern

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
suffered.’

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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