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Shepherds Bush, London.
Esquire is attached to a mall/shopping center, but with street access also. Not in the food court.
About nine in the morning. Twenty to thirty customers, often family groups. A steady turnover, and the staff are busy but not stretched.
The coffee has all the standard variations, the food is OK.
The fitout is average, non-matching furniture to give an impression of funky modernity. Clean, tidy, good friendly service.
The "fair trade organic coffee" branding seems irrelevant to most of the customer base.
It will be interesting to see how they fare. . .
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Who would have thought that C C C would be leading the charge this year !!
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Originally Posted by whatsup
Who would have thought that C C C would be leading the charge this year !!
Still 14% down over the last year, 46% down on last 5 years and 80% down since first listing......
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Originally Posted by whatsup
Who would have thought that C C C would be leading the charge this year !!
Indeed .. not wrong there
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Loss maker where current liabilities far exceed current assets.
Negative equity.
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This posting prompted me to have a read.
Increased offshore stores by 15 percent.
Like for like sales up 6 percent. What was inflation rate?
Going sideways but spun as being really positive.
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And one of their coffee franchise businesses went into 'administration' last year.
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Originally Posted by Sideshow Bob
And one of their coffee franchise businesses went into 'administration' last year.
Triple Two
The Triple Two business, which consisted of 11 operating franchised stores at the end of September 2023, was
placed into voluntary administration on 23 October 2023. The growth potential of this business was evident prior
to the Covid pandemic; however, this could not be maintained and it was unable to recover from the store closures
and changing market dynamic that followed. The resulting market conditions did not assist the Triple Two business
model because of the very different trading environment. Whilst growth had been evident in the first half of FY23
the factors referred to above led to store closures in the second half and reduced overall sales. The Directors
were left with no option than to place this business into voluntary administration to protect the position of the
Cooks Coffee business.
As a result of this action the company fully impaired the Triple Two investment of $4.8m and this has led to
reporting a negative equity position for the group of $3.6m at the end of September 2023. The investment into
Triple Two was made in shares issued in June 2020. Directors note that the remaining write down as per above
was in addition to the impairment of Goodwill reported in the March 2023 full year report of $2.5m.
In accordance with the above, under IFRS5 the Triple Two subsidiaries have been included under discontinued
operations in September 2023 and the September 2022 results have been restated accordingly. The Group
results have been consolidated Under IFRS10 which means that the Triple Two entities have not been included
as at 30 September 2023 due to loss of control on 29th September 2023.
The Directors recognise that the full impairment of the Triple Two investment has resulted in the balance sheet
showing a negative equity position. The company is confident that the operational profit and cash generation
projections for the balance of FY24 and into FY25 and beyond that will build on the positive cash generation in
the 6 months to September 2023 will provide adequate cash for the company as it continues its growth based on
the core Esquires businesses in UK & Ireland that both have more than 20 years of experience in the markets.
Last edited by percy; 09-02-2024 at 12:25 PM.
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Might be good punt if the new 15% or so shareholder wants to grab the lot
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