REG - Cooks Coffee Company - Expected Administration of Triple Two Coffee

Cooks CoffeeAnnouncement

26/09/2023 07:00

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RNS Number : 6551N  Cooks Coffee Company Limited  26 September 2023

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
                                                    (mailto:ukinvestorrelations@cookscoffeecompany.com)

 VSA Capital Limited                                +44 (0) 20 3005 5000

 (Aquis Corporate Adviser & Joint Broker)
 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 (mailto:cookscoffee@investor-focus.co.uk)

 

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