Been Beanscene

[Gaz]

Very interesting!!

http://news.bbc.co.uk/1/hi/scotland/gla ... 528927.stm

Troubled coffee chain seeks buyer

The Beanscene chain of coffee shops has gone into administration, the company has confirmed.

The firm, which has its headquarters in Glasgow, employs 142 staff in 14 shops across Scotland.

It was transferred to new owners in April, but they were unable to fund planned investments and called in administrators KPMG Restructuring.

KPMG said it was hopeful a new buyer would be found for the company, which continues to trade as normal.

A statement issued by Beanscene confirmed Blair Nimmo and Tony Friar of KPMG had been appointed as joint administrators at the request of Beanscene's directors.


We remain hopeful that we can find a buyer for the business and effect a quick sale of the company and its assets
Blair Nimmo
Joint administrator

The statement added: "Despite a turnover of £4m, the business had built an overhead base which was not sustainable by its 14 units.

"Add to this the costs of five leases which had been entered into for premises that were not fitted out or trading and the result were bottom line losses, which have continued into the current year.

"As part of a restructuring plan, ownership transferred in April 2008 to new backers and a significant injection of funds was made.

"With an unexpected change in circumstances, the new backers were unable to make further planned cash injections, resulting in the directors having no option but to place the company in administration."

The statement said the administrators were now actively seeking a buyer for the business with the support of employees, customers, landlords and suppliers.

Beanscene operates from six units in Glasgow, four in Edinburgh and one each in Stirling, St Andrews, Hawick and Ayr.

Mr Nimmo said: "The opportunity now exists to acquire a strong brand name, based on quality coffee delivery in a relaxed ambience.

"We remain hopeful that we can find a buyer for the business and effect a quick sale of the company and its assets."

In the US, the economic slowdown has seen Starbucks announce the closure of about 500 coffee shops although the chain is pushing ahead with plans to expand further in Europe.

[ravanwin]

post-festival --- I say we buy a franchise!
r

[Charlotte Halton]

That is indeed interesting. It always seemed like a place that was packed out in the evenings. Would have been good if individual franchises were up for sale.....

C

[martinmckenna]

bean and gone !

[lucky]

They should get a temporary booze licence.

A*

[dan]

ok so if no one objects in the next 24 hours I'll buy all Beanscene outlets in Edinburgh

[Gaz]

update:

http://news.bbc.co.uk/1/hi/scotland/gla ... 629673.stm

i like the quote highlighted below...classy!

but what does that make forest?

Beanscene sold to Fifi and Ally

The troubled coffee chain Beanscene has been sold to the restaurant and retailer, Fifi and Ally, in a move which has saved 130 jobs.

Beanscene, which had its headquarters in Glasgow and employed 142 staff in 14 shops across Scotland, went into administration in July.

Fifi and Ally said it would rebrand some of the Beanscene shops.

It now has eight branches in Glasgow, four in Edinburgh and one each in Stirling, St Andrews, Hawick and Ayr.

Fifi and Ally was founded in 2005 by entrepreneurs Fiona Hamilton and Alison Fielding.

Jobs saved

The acquisition of Beanscene will see the company treble its turnover to £6m.

Fiona Hamilton said the deal was part of an expansion.

"It is our intention to build on all that is good about Beanscene and our initial focus will be on extending the food offer," she said.

"The two brands will complement each other well - Sex in the City meets Bohemia - and some of the branches will, in time, rebrand as Fifi and Ally's new express food concept, while others will retain the Beanscene identity.

"We have a loyal customer base and combined staff of 200 committed individuals who want to succeed, as well as strong funding and a new management structure to drive the brands forward."

Blair Nimmo, head of restructuring for KPMG in Scotland, and joint administrator, said: "Not only has this saved 130 jobs, but the sale also ensures that existing customers will continue to be serviced and that the landlords and suppliers will have ongoing business.".