UK – Kpmg hopeful to sell Coffee Republic by Friday

MILAN – Administrator Kpmg is hopeful to sell Coffee Republic by Friday after receiving more than 120 expressions of interest in the coffee chain.

The chain’s executive chairman Peter Breach and former chief executive Steven Bartlett are among the interested parties looking to take the company forward.

Bobby and Sahar Hashemi, the co-founders of the chain, are reportedly not interested while rival chains such as Costa Coffee and Caffe Nero are thought to be eyeing up some of the stores shut last week.

The coffee shop chain collapsed last week after closing a company-owned store and the administrators have since closed 10 of the 19 remaining company-owned stores. It now comprises nine company-owned stores, 70 franchises and 97 concessions in cinemas, retail outlets and hotels.

Coffee Republic operates more than 180 coffee shops across the UK and has outlets in 10 other countries.