BEANSCENE founder Gordon Richardson is to battle with 150 rival would-be buyers to try to regain control of the business he sold five months ago.
The troubled coffee shop chain, which went into administration last month, has attracted a flurry of interested suitors, administrator KPMG has revealed.
KPMG yesterday set a closing date of 15 August on offers for the group, which ran into tro
uble when promises of finance from an outside investor were withdrawn halfway through a planned expansion, leaving it with leases on five shops that could not be transformed into outlets.
Richardson had earlier quit and sold the business to rival company Tinderbox after a wrangle with the investor over the future direction of the business.
Richardson yesterday said he would be able to refocus the board's efforts on making Beanscene an "evening destination" and music venue rather than an on-the-go coffee chain like Starbucks or Costa. He told The Scotsman: "The investors are no longer in the business and the board is behind my ideas.
"Beanscene is not Starbucks, Costa or Caffe Nero – it's more of an environmental experience with a big commitment to music.
"It seems to me that I am closer to the business as it stands than other prospective buyers."
Beanscene, which has 14 outlets and 142 staff, hosts regular live gigs and has been credited with helping to launch Scots singing stars KT Tunstall and Amy MacDonald. Some of its outlets are run on a franchise basis.
Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said: "The Beanscene brand is very strong and this has been reflected in the support provided to date by employees, landlords, suppliers and customers, as well as in the number of enquiries we have received about the business – which now stands at almost 150.
The chain was founded by Glasgow-based entrepreneur Richardson in 2000 and grew from a single outlet to a Scotland-wide chain.
Since leaving Beanscene, Richardson has launched the first branch in Glasgow of a new coffee chain called Pico, a venture he claimed would not be affected if he was successful in re-acquiring Beanscene.
Richardson would not comment on whether his bid for Beanscene was likely to be more or less than he sold it for earlier this year.
He said: "What it is going to cost is not that clear yet. We need to look at what situation the company is in at the moment.
"When the 150 is whittled down to the serious bidders on 15 August, I will be among them."
The full article contains 434 words and appears in The Scotsman newspaper.
