LONDON, UK: Cooks Coffee, the owner of Esquires and Triple Two coffee chains, has announced that it expects to appoint administrators for its Triple Two business soon. The company said that the Covid-19 pandemic has severely affected the performance of its Triple Two franchise, which has 11 operating stores in the UK.

The company said that Triple Two was growing rapidly before the pandemic and had shown continuing momentum in FY22, but this has not been sustained in the current market environment.

Cooks Coffee, which is listed on the NZX and AQUIS exchanges, said that its larger Esquires business will not be impacted by any Triple Two insolvency process. The company said that Esquires continues to perform in line with management’s expectations and is making a positive contribution to the group. Esquires has more than 100 stores across the UK, Ireland, China, Indonesia, Saudi Arabia and Bahrain.

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