Osborne Clarke to advise on Coffee Republic's potential collapse
Osborne Clarke is to advise ailing coffee chain, Coffee Republic, which has suspended its shares in anticipation of appointing administrators. Bristol corporate partner Paul Cooper and head of restructuring and insolvency Nigel Boobier, have been brought in to advise the company in relation to its potential collapse.
July 06, 2009 at 10:25 AM
2 minute read
Osborne Clarke is to advise ailing coffee chain, Coffee Republic, which has suspended its shares in anticipation of appointing administrators.
Bristol corporate partner Paul Cooper and head of restructuring and insolvency Nigel Boobier, have been brought in to advise the company in relation to its potential collapse.
The firm has had links with Coffee Republic for several years, having initially advised around 18 months ago in relation to a financial arrangement with Barclays.
Coffee Republic, which was launched in 1995 by brother and sister Bobby and Sahar Hashemi, now has around 220 outlets in the UK and internationally.
Last Friday (3 June) the company asked for its shares to be suspended after the close of trading, pending clarification of the financial position of subsidiaries including Coffee Republic UK – its main operating company in the UK.
In a stock exchange statement the AIM-listed company said documents had been lodged in anticipation of the appointment of administrators.
It is thought that no other law firms are currently involved as an administrator has yet to be appointed.
Coffee Republic has also previously used LG, with the firm taking the lead on its listing on AIM in 2000 as well as subsequent fundraisings. Managing partner Hugh Maule has frequently managed the company in the past
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