Archive Page 2

07
Jul
09

Notice of administration

Coffee Republic (UK) Ltd (in administration), Coffee Republic Franchising Ltd (in administration) and Goodbean Ltd (in administration) (“the companies”)

Richard Hill and David Crawshaw were appointed Joint Administrators of Coffee Republic (UK) Ltd, Coffee Republic Franchising Ltd and Goodbean Ltd on 7 July 2009.

Coffee Republic Plc is not in administration. We understand that trading of shares has been suspended whilst the Administrators deal with the core business which is run through the subsidiaries.

The Joint Administrators

The affairs, business and property of the Companies are being managed by the joint administrators. The joint administrators act as agents of the Companies without personal liability.
Richard John Hill is authorised to act as an insolvency practitioner by the Institute of Chartered Accountants in England & Wales
David John Crawshaw is authorised to act as an insolvency practitioner by the Institute of Chartered Accountants in England & Wales

07
Jul
09

Stores affected by the administration

Beckenham
Birmingham, New Hall St
Birmingham, Temple Row
Bluewater
Canary Wharf
Canterbury
Chester, 33 Northgate St
Ealing, The Mall
Hove
London, George St
London, Great Marlborough St
London, Kings Rd
London, Queensway
London, Rathbone Place
Manchester, York House
Pembridge
Richmond
Staines
Worcester

07
Jul
09

Coffee Republic in administration

header_blocks

Tuesday, 7 July 2009

The coffee chain Coffee Republic has gone into administration, becoming the latest victim of the economic downturn.

Twenty of its 187 UK outlets are directly owned and affected by the administration. The rest are franchises or concessions in cinemas or hotels.

The firm has 153 directly-employed staff, of whom 26 are based at its head office in London.

Administrators at KPMG have warned that job losses are “inevitable” at loss-making outlets.

Recession-hit

The chain was formed by Bobby and Sahar Hashemi, a brother and sister team, and opened its first branch in 1985 in South Molton Street, London.

Richard Hill, KPMG partner and joint administrator, said: “The recession is hitting discretionary spending on the High Street and some of the less profitable bars with expensive leases have suffered.

“However, Coffee Republic has a strong brand and I expect considerable interest in the profitable parts of the business.

“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.”

KPMG has been appointed to Coffee Republic (UK), Coffee Republic Franchising and Goodbean, although holding company Coffee Republic plc is not in administration.

Outside the UK, Coffee Republic has outlets in 10 other countries including Saudi Arabia and Bulgaria.

The UK has more branded coffee bars than anywhere else in Europe, according to the consultancy Allegra Strategies. The three biggest players are Starbucks, Costa and Caffe Nero.

03
Jul
09

Coffee Republic shares suspended

Trading in the shares of Coffee Republic has been suspended after the company placed one of its subsidiaries into administration and called in restructuring advisers from law firm Osborne Clarke.

The ‘financial position of certain subsidiaries including Coffee Republic (UK) Limited, the principal UK operating company’ are being investigated Photo: DANIEL JONES

The British coffee retailer, which has had a chequered history since its inception in 1995, asked for its shares to be suspended from trading late on Friday night after the markets closed

In its announcement to the stock market the company stated that “financial position of certain subsidiaries including Coffee Republic (UK) Limited, the principal UK operating company” were being investigated and that documents had been lodged with the High Court in anticipation of the appointment of administrators to those subsidiaries.

Chief executive Steve Bartlett said that the PLC remained viable but that the board had begun a restructuring programme in order to shed onerous leases for a number of its UK outlets that it was no longer able to support.

“An order has been placed on GoodBean, which is one of our subsidiaries,” said Mr Bartlett. “There are about 12 sites in that company. But it was bought before either I or Peter [Breach, chairman] got involved and these legacy leases have huge charges associated with them. We will now start negotiations with landlords about how to move forward,” he said stressing that most Goodbean sites would continue trading.

Shares, which have lost two thirds of their value over the last year, closed up 2pc valuing the company at £2.8m.

02
Jul
09

New Coffee Republic open in Dunstable

Coffee Republic’s latest opening is in the market town of Dunstable, Bedfordshire. Situated in the Quadrant Centre Shopping Centre.

Bar address: 4 Nicholas Way, Quadrant Centre, Dunstable, Bedfordshire, LU6 1TD

09
Jun
09

Coffee Republic arrives in Felixstowe

The new Coffee Republic in Felixstowe is situated on the main street of Hamilton Road between the train station and the waterfront.

74-76 Hamilton Road, Felixstowe, Suffolk, IP11 7AF
Tel: 01394 286553
Fax: 01394 286553

01
Jun
09

M&S shopping vouchers offered as reward for household recycling

recycling_1413720c

Telegraph.co.uk
By Louise Gray,
Environment Correspondent
31 May 2009

Households will be able to claim money off Marks and Spencer underwear, Subway sandwiches or a cappuccino from Coffee Republic in the first scheme in Britain to reward people for recycling.

People with microchips installed in their bins will earn points towards money-off vouchers according to the amount of waste they recycle.

Under the pilot scheme in Windsor and Maidenhead, people will be able to track their points online and then go and claim their rewards in participating local shops.

It is expected the average household will produce enough recycling to be able to claim around £150 every year, although the number of points awarded will be capped to stop people deliberately generating waste.

Previous attempts by the Government to encourage recycling through fortnightly bin collections or installing microchips in order to impose “bin taxes” have proved unpopular.

However, the pilot reward scheme is expected to be more popular and could be rolled out to hundreds of thousands of households in Britain in the next two years.

Participating companies include Marks & Spencer, Legoland Windsor, Subway, Coffee Republic and Snappy Snaps and the vouchers can be used to purchase anything in their shops.

Other local shops, restaurants, leisure facilities and charities have also signed up and more High Street shops are expected to join the scheme in future.

The scheme, being run in partnership with Veolia Environmental Services, will begin today (Mon) for garden waste provided by 2,800 households before being rolled out to around 6,000 households and all recyclable materials.

Liam Maxwell, Lead Cabinet Member for Sustainability at the Tory-controlled council, said residents had already had their bins fitted with microchips.

“We believe in rewarding our residents for their recycling efforts, not imposing penalties. We are excited about launching a pilot scheme that has the potential to boost recycling, reduce waste sent to landfill and also help support the economy by supporting local businesses. It’s win-win-win for everyone.”

Matthew Tucker, president of RecycleBank, that has boosted recycling rates by up to 200 per cent in the United States and is running the scheme, predicted UK councils will take up the method even quicker than in America.

In the US the scheme went from a few thousand households to one million across 19 states in a few years. He said RecycleBank is already in talks with around 12 councils including London boroughs.

“Residents take an active role in helping the environment and are rewarded with goods and services or can make donations to charities through the points they gain,” he said. “This scheme offers real benefits for all parties involved; never more important than in today’s tough times.”

But Nick Herbert, the Tory environment spokesman, compared the scheme to recent attempts by the Government to introduce a “pay as you throw” bin tax.

“Labour’s bin tax bullying is totally counter-productive,” he said. “We ought to be making recycling easier and more rewarding for families who are facing a tough economic outlook, not punishing people.”

27
May
09

International coffee chain coming to Dunstable

BTJ_masthead
Published Date:
27 May 2009

Finally, good news for the town after months of gloom and doom

Coffee Republic has taken over the former Tchibo shop in The Quadrant. And most of Tchibo’s seven former staff will be offered jobs at the new cafe.

Builders are currently working at the premises and the chain has confirmed it will be open by June 9.

A spokesperson for the firm, which has been running since 1995, said the coffee house chose to move to Dunstable because there are no branches in the area.

Dunstable Business Forum chairman Mick Radford, who owns gents’ outfitters Big Stuff in Queensway, said: “It’s really a coffee shop replacing another one. But any shop opening in Dunstable is absolutely fantastic.”

Tchibo, which sold household good and housed a cafe, closed at the end of April. All of the UK stores will close gradually throughout the year to enable The German firm to concentrate on web sales.

12
May
09

New Coffee republic to open in Haywards Heath

Coffee Republic Haywards Heath will be openning it’s doors to customers on May 13th, 2009 inside the Orchards Shopping Center.

The store has been newly renovated including outside café style seating, WiFi internet and a new range of drinks.

coffeerepublicmap

17
Apr
09

Coffee Republic opens in Wandsworth

Coffee Republic’s latest opening is in the Southside Shopping Centre in Wandsworth, London. It is franchisee Upendra Trivedi’s second Coffee Republic Bar which is located on the first floor the shopping centre.

Shop address: Unit 207, First Floor Upper Concourse, Southside Shopping Centre, Wandsworth, London, SW18 4TF

001