Fri, 11 Nov 2011 | ADMINISTRATION
Coffee machine provider MyCoffee has been placed into administration after experiencing difficulties keeping up with its financial arrangements over recent months.
Cameron Gunn and Mark Supperstone of Resolve Group have been appointed as the administrators. They aim to sell the business and assets as a going concern or to work with Shell to find a new supplier to the outlets.
MyCoffee entered a joint venture with Shell and Coffee Republic last year to install, maintain and service coffee machines at 320 Shell service stations across the UK. It offers this service to several retailers and educational establishments as well.
Mr Gunn commented; “Shell’s sites service thousands of customers a day. It is our aim to ensure that there is minimum disruption to the supply of coffee at Shell outlets whilst a purchaser is found for the business as a going concern.”
At its last recorded accounts at the end of 2009, MyCoffee announced that it owed creditors £322,676, which was due to be fully repaid within one year.
The move into a joint venture last year was part of Shell’s broader plans to grow through strategic relationships. Shell has also entered similar arrangements with Tesco in Hungary, Circle K in Indonesia and 7-eleven in Singapore.
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