Mangobean Coffee Ltd (07382033): administration
- Status
- Administration ended
- Administration began
- 2018-03-01
- Administrators
- Andrew Poxon, Julien Robert Irving
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2010-09-21
- Location
- Manchester
- Industry
- 46370 Wholesale of coffee, tea, cocoa and spices
Why it went into administration
- HMRC / tax arrears
- Pension deficit
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 21 September 2010 and commenced to trade shortly following its inception. The registered number is 07382033.
The principal trading activity of the Company was the wholesale of coffee, tea, cocoa and spices. It traded as a franchisor of coffee shops under the brand “Mangobean’. Over a number of years, the business diversified from selling coffee beans and machines to franchising coffee shops.
The Company was initially capitalised through the introduction of persona! funds by its shareholder and through organic growth became one of the fastest growing coffee shop chains in the UK. The Company moved into franchising in 2014 and opened 12 stores, of which 8 operated a non-franchise model. Management worked with these stores to develop their existing ventures and set up brand new shops. This was mutually beneficial and allowed the Company to develop and refine the brand, marketing activity, distribution channels and menu.
Administrators' statement of proposals (2018-04-27) · Companies House register