Coffee Republic shares suspended
6 July 2009 By MoneyhighStreet Staff Leave a Comment
Coffee Republic, one of the UK’s leading coffee chains, is close to going into administration and its shares on AIM (the Alternative Investment Market) have been suspended.
The Coffee Republic shares were suspended ‘pending clarification of the financial position of certain subsidiaries’.
Documents have been lodged with the court in anticipation of the appointment of administrators to these subsidiaries.
Its first store was opened in Bond Street, London in 1995, and there are now some 200 stores worldwide, mostly in the UK.
It has experienced problems as a result of rapid expansion and reported a loss of £527,000 in the 6 months to 28 September.
Coffee Republic shares have lost considerably in value over the last year and closed at 22p on Friday.
Coffee Republic is not alone, others, including Starbucks, have struggled this year.
