Taylor St Baristas continues with Sodexo roll-out after appointing administrators
Taylor St said it opened two cafes with Sodexo this month, including The Work Cafe in Leeds, part of the Santander Bank.
There are between 10 to 15 sites forecast to open by end of March 2020 it confirmed.
Last year, it joined forces with the French foodservice giant to roll out 400 coffee shops sites with a ‘turn key’ speciality coffee solution with Chapter & Verse, a new speciality coffee brand developed by Sodexo and Taylor.
The news came as Black Sheep Coffee purchased the leases and operating licences for eight London sites of Taylor St Baristas after a competitive process earlier this month. Its New York coffee shop, which was not part of the deal, will continue to operated by Taylor St Baristas, it confirmed.
The administrator, it said, has been appointed to support the restructure and potential sale of its coffee business, which will continue to trade as normal.
The administrator was appointed following a strategic review of Taylor St’s finances. The directors concluded that the highly leveraged capital structure of the business was no longer sustainable.
“Sadly, Taylor St’s carrying too much debt, which has affected our ability to raise new capital to support the ongoing development of the business,” Nick Tolley said.
The Taylor St business was founded in 2006 by siblings Andrew, Laura and Nick Tolley.
In October 2018, co-founder Nick Tolley told Beverage Business World, that it was planning expansion up and down the East Coast of the US and the Benelux region.
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