Service with a smile 21 February 2020 Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
In this week's issue...Service with a smile Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
Read More
Search
The Caterer

Coffee Republic to raise more funds to support franchising plan

03 April 2007 by
Coffee Republic to raise more funds to support franchising plan

Coffee bar chain Coffee Republic has gone back to the stock market in the hope of raising a further £707,000 to fund the expansion of its brand with the recruitment of a network of franchisees.

The open offer of 28,278,265 ordinary shares at 2.5p per share comes on top of its announcement last month of a placing of 37,400,000 shares at 0.1p each with the newly installed management team, raising £935,000.

The two sums will go towards the same things, namely expanding the brand at home and overseas largely through franchising, buying new sites, reducing borrowings and as general working capital, said finance director Simon Drysdale.

"We are looking to expand aggressively. Within the UK we are hoping to add another 40 or so sites within the next 12 to 15 months," he added.

The company also posted a trading update that showed sales up 0.8% for the year to 25 March, with sales at franchises up 12.1% against a 5.2% decline at company-operated bars.

The decline at managed bars was described as "disappointing" but the financial drag has diminished, said the company, as the emphasis was now very much on franchising.

Coffee Republic plans to convert all company-owned bars to franchising over time.

Coffee Republic raises cash to fund expansion >>

Former Coffee Republic boss cashes in shares worth more than £400,000 >>

Coffee Republic signs first international master franchise >>

Coffee Republic signs new franchises >>

Coffee Republic signs deal with Family Entertainment Centres >>

Boss and co-founder of Coffee Republic forced out in shareholder revolt >>

By Nic Paton

E-mail your comments to Nic Paton](mailto:chris.druce@rbi.co.uk?subject=Coffee Republic to raise more funds to support franchising paln) here.

[The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!