Buyer sought for Beanscene cafés

08 August, 2008
Page 8 
Administrators for Scottish coffee chain Beanscene have received more than 50 expressions of interest for the business.
KPMG, which took control of the 14-café chain on 24 July, hopes to sell it as a going concern. The firm, which has around 140 staff, has continued trading.Despite a £4 million turnover, Beanscene's overheads become unsustainable, said KPMG. The company had also entered into five leasehold agreements for premises that were not fitted out or trading, which had led to "bottom-line losses that continued into the current year".Beanscene's founder Gordon Richardson, who quit the business in March after a boardroom row, has said he may put in an offer to buy it. Richardson, a shareholder in the firm, had agreed a refinancing package shortly before his departure.The business was founded in 1999 and is well-known for its live music and child-friendly policies. Administrator Blair 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."



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