Arab Investment buys Coffee Republic out of administration

Arab Investment buys Coffee Republic out of administration
31st July 2009

Property firm Arab Investment in late July bought the operating business of UK-based chain Coffee Republic out of administration, according to a Reuters report.

Arab Investment, which is behind plans for a new London skyscraper, aims to expand the business, which collapsed in early July. Coffee Republic has 60 outlets in the UK and another 20 in various markets including the Middle East and Eastern Europe, the company was quoted as saying.

Administrator KPMG said that there had been a large volume of enquiries following Coffee Republic’s collapse, and that the sale both rescues a substantial part of the business and protects some 62 jobs at the coffee chain.