Canary Wharf Coffee Republic shut

By John Hill on July 9, 2009 4:42 PM |

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Administrators have shut down Canary Wharf's Coffee Republic outlet as they continue to look for a buyer for the stricken chain.

The Cabot Place West shop closed two days after the company announced it had gone bust. It was one of ten of the 20 Coffee Republic-owned stores to go, resulting in the loss of 66 jobs.

A total of seven staff were employed by the Wharf branch, which was among those considered "no longer viable" by joint KPMG administrators Richard Hill and David Crawshaw.

Stores in Manchester, Richmond, Staines, Chester, Canterbury, Ealing, George Street, Rathbone Place and Great Marlborough Street were also closed.

The Gloucester Road branch shut shortly before the appointment of administrators, but stores in Hove, Bluewater, Worcester, Temple Row and New Hall Street in Birmingham, Pembridge, Kings Road, Beckenham and Queensway remain open. The 70 franchised outlets and 97 concessions in hotels, cinemas and retail outlets are also still trading as they are not in administration.

Richard Hill, KPMG partner and joint administrator said: "Following our assessment of the Coffee Republic (UK) Ltd-owned outlets we have had to take the decision to close those which are no longer viable to leave the profitable parts of the business remaining.

"We are now in discussions with interested parties with a view to selling the remaining business as a going concern.

"There has been huge interest already from potential purchasers and I remain confident of achieving a sale during the course of next week."