Chattybean Limited (08874119): administration
- Status
- Administration ended
- Administration began
- 2018-09-07
- Administrators
- Andrew John Tate, James Hopkirk
- Administrators' firm
- Kreston Reeves
- Incorporated
- 2014-02-04
- Location
- Chatham
- Industry
- 47250 Retail sale of beverages in specialised stores
Why it went into administration
- Property / lease costs
- Sustained trading losses
- Weak consumer demand
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
Chattybean is a private company limited by shares that was incorporated on 4 February 2014. The company operated two Coffee Republic branded coffee shops under franchise agreements with Coffee Republic PLC. The coffee shops were located in Chatham, which had been trading since 2015, and Bracknell, which opened in 2017.
At the time of entering into Administration, the Company had one director-shareholder, David Waller. Aniq Ahmed resigned his directorship on 4 June 2018, but has retained his shares in the Company.
Since opening, the Chatham shop had been largely profitable with a steady trade in an advantageous location. Turnover has grown and the coffee shop has regular footfall.
Administrators' statement of proposals (2018-09-24) · Companies House register