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COFFEE REPUBLIC Investors' Blog

This blog is independently written and not affiliated with Coffee Republic Plc in any way

Coffee Republic now open in Leeds City Centre!

22nd July 2008



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Labels: Coffee Republic, Franchise, Leeds
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“Coming together is a beginning, staying together is progress, and working together is success” - Henry Ford. An apt dedication to the Coffee Republic rebel shareholders.

*Last blog update*

28th January 2009
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Coffee Republic Links

  • Coffee Republic official website
  • Coffee Republic news
  • Coffee Republic store locations
  • McLeish Brothers
  • Google Finance
  • Wordpress blog - Coffee Republic


Coffee Republic Archive

  • ►  2009 (6)
    • ►  January (6)
  • ▼  2008 (141)
    • ►  December (6)
    • ►  November (7)
    • ►  October (11)
    • ►  September (13)
    • ►  August (8)
    • ▼  July (6)
      • Coffee Republic now open in Leeds City Centre!
      • CR Deli opens in Gravesend today!
      • A new CR to open in Aberdeen soon
      • Steven Bartlett steps down
      • Six CR Delis opened in June!
      • New CR Deli set for Billericay
    • ►  June (9)
    • ►  May (8)
    • ►  April (14)
    • ►  March (13)
    • ►  February (14)
    • ►  January (32)

Financial Results - 2007

  • Interim Results - 19 December 2007
  • Preliminary Resuts - 30 July 2007

International operating stores

  • Bulgaria
  • Ireland
  • Malta
  • Romania
  • Saudi Arabia
  • Turkey
  • United Arab Emirates

International Master Franchises signed

  • Bahrain
  • Bulgaria
  • Ireland
  • Jordan
  • Kuwait
  • Malta
  • Oman
  • Romania
  • Saudi Arabia
  • Turkey
  • United Arab Emirates

Rumours - International Master Franchises

  • Czech Republic
  • China
  • India


Coffee Republic reborn

Coffee Republic was formed in 1995 by Bobby and Sahar Hashemi, a brother and sister who wanted to bring quality coffee from New York to Britain. They saw the opportunity for exporting the coffee bar concept to Britain. Over the past twelve years the company has been through several phases, but is now taking a radically new direction, and embarking on what may be its most exciting phase to date.

Bobby Hashemi’s instinct had been correct, and in the eight years after establishing the first ever Coffee Republic on South Molton Street in London, the company grew rapidly, growing to more than a hundred outlets and achieved a stockmarket listing. However, the company never made a profit. In the financial year ending March 2006, from a turnover of almost £15 million, the company made a loss of more than £1.4 million.

The need for change

While investors were prepared to forgive a company that was growing rapidly, their patience began to wear thin once the company started to contract as it did from 2003. The catalyst for change came from Steven Bartlett, an established retail entrepreneur. He believed that Coffee Republic could succeed in Plymouth, where he was living, and so he applied for a franchise.

He was surprised to be turned down, and so he applied again. Having been rebuffed a second time, he was much less surprised to discover an online chatroom full of highly disgruntled Coffee Republic shareholders. He became convinced that the company was not being run as well as it could and he resolved to do something about it.

Together with Peter Breach, Bartlett began to acquire shares in the company, and by September 2006, the pair owned 26 per cent of the company. Through the online chatroom they had gathered the support of a further 26 per cent of the shareholding, and so requisitioned an Extraordinary General Meeting to remove the company’s senior management.

The response from the Board was to ask Breach and Bartlett to withdraw the requisition in return for being installed as chairman and chief executive respectively. They agreed and took up their new positions at the end of October 2006.


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