Cooks Coffee Company Limited Expected Administration of Triple Two Coffee (6551N)

TIDMCOOK

RNS Number : 6551N

Cooks Coffee Company Limited

26 September 2023

Cooks Coffee Company Limited

("Cooks Coffee", or the "Company" or the "Group")

Expected Administration of Triple Two Coffee business

Cooks Coffee (NZX:CCC; AQUIS:COOK) announces that the Company expects to shortly appoint administrators to place its Triple Two coffee franchise business, comprising Triple Two Holdings Limited and its subsidiaries, into an insolvency process.

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.

The Company's larger Esquires business continues to perform in line with management's expectations and is making a positive contribution to the Group. The Esquires business will not be effected by any Triple Two insolvency process.

The Company will make further announcements in due course as appropriate.

Enquiries

 
 Cooks Coffee Company Limited                +64 21 702 509 (New Zealand) 
 Keith Jackson (Executive Chairman)          keith.jackson@cookscoffeecompany.com 
 
                                              +44 (0) 20 3814 5627 (UK) 
                                             ukinvestorrelations@cookscoffeecompany.com 
 
 VSA Capital Limited 
  (Aquis Corporate Adviser & Joint 
  Broker)                                    +44 (0) 20 3005 5000 
 Andrew Raca, Simba Khatai, Alex 
  Cabral 
  (Corporate Finance) 
 David Scriven, Peter Mattsson (Corporate 
  Broking) 
 
 
    Oberon Capital (Joint Broker)                      +44 (0) 20 3179 5300 
     Nick Lovering, Adam Pollock, Mike Seabrook 
 
     IFC Advisory Limited (Financial PR & IR)           +44 (0) 20 3934 6630 
    Tim Metcalfe, Graham Herring, Florence Chandler    cookscoffee@investor-focus.co.uk

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(END) Dow Jones Newswires

September 26, 2023 02:00 ET (06:00 GMT)

Cooks Coffee (AQSE:COOK)
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