The deal saved over 150 jobs.
Health-focused café chain Filmore and Union Group has been acquired out of administration by Coffeesmiths Collective Ltd.
FRP Advisory LLP partners Phil Pierce and Paul Whitwam were appointed joint administrators on 24 May after the business “suffered severe cash flow pressures following a period of challenging trading.”
The administrators managed to secure a partial sale of the business and assets to Coffeesmiths Collective Ltd, the owner of a number of speciality coffee companies, which has acquired 10 of the Filmore & Union trading sites and the production kitchen. 150 employees have transferred across to the new owner as a result.
The remaining seven sites, meanwhile, have ceased trading with immediate effect, resulting in around 80 employees being made redundant.
"We are pleased to have been able to secure a deal which crucially protects a large number of jobs in the local area and will help to maximise returns for creditors. We wish the team at Coffeesmiths Collective all the best as they continue to expand their business,” Pierce said.
"Unfortunately, it has not been possible to secure the sale of all sites, and we are working with the Redundancy Payments Service to provide support for all employees affected at this difficult time."
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