Madisons sells London sites to Starbucks
Madisons Coffee has sold most of its eight London coffee houses to Starbucks for £1.4m.
The group has sold eight sites to Starbucks, most of which are in London. Shops in Piccadilly, Fleet Street, Kensington, Putney and St Catherine's Dock will all become Starbucks.
The location of the remaining three sites will not be revealed until the landlords have given their approval for the sale.
The sale comes after the group's financial results for the year ended 24 June revealed flat like-for-like sales at the Madisons Coffee shops in London.
Madisons chairman Nigel Whittaker said the decision to sell the portfolio of sites was taken "to address the trading performance" of the chain.
The group will now focus on its Madisons Coffee shops outside London and the Richoux restaurant chain.
