10 Coffee Republic stores close resulting in 66 redundancies.

Following news that the high street coffee chain Coffee Republic had entered administration earlier this week, administrators KPMG has announced details of store closures and redundancies.

KPMG was appointed Joint Administrators of the ailing business following its notice of administration on 7 July. The advisory firm has since confirmed that 10 of the company’s 20 stores have closed with immediate effect, resulting in 66 redundancies. The chain’s Gloucester Road store, in central London closed shortly before the appointment of the administrators.

The outlets are spread across Manchester and London. The remaining coffee bars will continue to trade as normal, and the Administrator reiterated that the franchising business and concessions, which are found in cinemas, retail outlets and hotels, are not in administration and will also continue as normal.

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.”