Despite news today that the worst of the recession may be over, it was too late for coffee chain Coffee Republic, started in 1995, who went into administration today. It has 187 outlets, 20 of which are directly owned (and therefore affected by administration) whereas the rest are franchises or concessions in cinemas or hotels. Job losses amongst it's 153 directly employed staff are likely.
Administration is a rescue mechanism for UK companies in severe trouble and, with supervision, attempts to enable a business to try and trade its way out of difficulty. A business which is in administration cannot be wound up without permission of a court.
The UK has the most branded coffee bars in Europe and the three biggest are Starbucks, Costa and Caffe Nero.
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