New Zealand-based Cooks Coffee Company plans to place its Triple Two coffee franchise business in the UK into an insolvency process.

For this, the company intends to appoint administrators for its franchise business, which includes Triple Two Holdings and its subsidiaries.

In a statement, Cooks Coffee Company said: “Triple Two was growing rapidly before the Covid-19 pandemic and had shown continuing momentum in FY22.

“However, in recent times, this momentum has not been able to be maintained and the business has been adversely impacted by the current market environment. Currently, there are 11 operating Triple Two franchised stores.”

Cooks Coffee is likely to appoint administrators shortly and will make further announcements in due course.

However, Cooks added that the insolvency process will not affect Esquire’s Coffee, another coffee chain which the company owns, as it is performing as per the management’s expectations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last month, Cooks Coffee announced the opening of the Esquires store in Egham, Surrey.

The new venue is the company’s 54th location in the UK. It is said to be strategically located and facilitates hassle-free accessibility for all its patrons, with a cosy seating arrangement.

At that time, the company announced that it had set a target to open seven to eight more locations in the coming two quarters.

In a statement, the company said: “Our consistent growth is steered by a robust regional developer partnership model, leveraging local wisdom to pinpoint the best spots, a strategy pivotal to our sustained achievement.”