tinderbox/algie bought beanscene?...

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tinderbox/algie bought beanscene?...

Postby Sharpjd » Thu Apr 10, 2008 1:14 pm

...that's what i heard anyway.

if true i was wondering how much they'd paid and whether they've cherry picked the good locations or included the dross?

(and if it's not true extreme apologies)
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Postby radish » Thu Apr 10, 2008 1:25 pm

Could be true. Just spotted the story that the Beanscene founder has left the company:

http://business.scotsman.com/fooddrinka ... id=3928243

He's planning to setup "European cafe-bar atmosphere" for Glasgow and Hamilton (snigger)!
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Postby keepitlikeasecret » Fri Apr 11, 2008 10:39 am

thats a pretty big deal up this way, i can't imagine beanscene would of been too cheap given the amount of coffeehouses they have up here. i guess i have had concerns over their cashflow for a little while; they had proposed sites in both perth and dundee which have been left in shell condition for almost 2 years now. i met gordon at a scottish enterprise meeting a couple of years ago and he would resolutely not use the banks for a loan, but had big ambitions of opening some 25 cafes in the space of a few years, and expanding down into england. i can only imagine from that artical that other people felt bank loans were in order to expand.

it'll be interesting to see how the existing cafes change, and if they keep all of them on or if they let some go. surely matthew algie will want to improve the drink quality in these bars.
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Postby Sharpjd » Mon Jul 28, 2008 8:06 pm

Update...Beanscene has now gone into administration. 14 stores around Scotland now up for sale...some good locations and some totally awful locations.
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Postby Steve » Mon Jul 28, 2008 8:32 pm

WOW so did the Algie deal not happen after all, shock news
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Postby radish » Mon Jul 28, 2008 8:40 pm

According to the Herald:

"... The new backers were unable to make further planned cash injections, due to an unexpected change in circumstances."

Interesting :wink:
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