Name change for coffee bar chain
23 February 2000
Coffee bar chain City Gourmets is changing its name to Madisons Coffee, the company said today.
The firm, which runs 35 coffee bars in the UK under the Madisons name, also announced turnover up by 165% to £5.19m during the 28 weeks to 9 January. This compares with £1.96m for the same period last year.
Gross profit was up from £590,000 to £2.07m, but the company still made a pre-tax loss of £760,000.
Madisons has also acquired two more sites, in London's Piccadilly and Kensington, for £700,000 in cash.
