cafe nero in receivership

clive0510

Hope no one has shares in cafe nero.another big name to go. they will be in receivership early next week. It makes me think with all these companys going, maybe they would of been headed that way any way. and maybe the virus has just kinda sped the process up a bit.. 

Farway

clive0510 said:

Hope no one has shares in cafe nero.another big name to go. they will be in receivership early next week. It makes me think with all these companys going, maybe they would of been headed that way any way. and maybe the virus has just kinda sped the process up a bit.. 

Agree, the old saying of "When the tide goes out you see who was swimming naked" applies to may I think

od244051

A friend of mine is a manager of one of the shops in Northamptonshire. I bet she's worried. 

maman

It's not a chain I use but always sorry to hear of anyone losing their jobs.

When we were in Warsaw a couple of years ago, Cafe Nero seemed as high profile and Starbucks and Costa are here. We used a couple of them and they did delicious fresh  baguettes and beautiful cakes . It was the sort of quality you'd get at a National Trust property here. Is it the same in the UK?
https://www.tripadvisor.co.uk/Restaurant_Review-g274856-d1077629-Reviews-Green_Caffe_Nero-Warsaw_Mazovia_Province_Central_Poland.html

MalMonroe

That's so sad, I love Caffe Nero. Much better than Starbucks and a welcome change from Costa. 
I really wish I could get out for a nice coffee like in the 'old' days - but I'm too scared right now.

And when I've totted up how much I used to spend per week on coffee mornings, well, I don't even want to disclose my saving but it's quite good!  But my home made coffee isn't. 

DCFC79

Didnt think they were in receivership but just going the CVA route which I think means they can still trade but come to an agreement with the landlords etc.

https://www.bbc.co.uk/news/business-54929684

Unless you know more OP.

clive0510

DCFC79 said:

Didnt think they were in receivership but just going the CVA route which I think means they can still trade but come to an agreement with the landlords etc.

https://www.bbc.co.uk/news/business-54929684

Unless you know more OP.

no. someone who works there told me receivers are in next week.

DCFC79

clive0510 said:

DCFC79 said:

Didnt think they were in receivership but just going the CVA route which I think means they can still trade but come to an agreement with the landlords etc.

https://www.bbc.co.uk/news/business-54929684

Unless you know more OP.

no. someone who works there told me receivers are in next week.

Well until i see otherwise they are just restructuring.
Firms dont tend to go straight to receivership,  they go for a CVA first and if that doesnt work then it could be administration/receivership. 

bradders1983

They also dont tend to tell everyone in the shops every minute detail of whats going on either. 

JJ_Egan

Where are the offers ??

AnotherJoe

clive0510 said:

Hope no one has shares in cafe nero.another big name to go. they will be in receivership early next week. It makes me think with all these companys going, maybe they would of been headed that way any way. and maybe the virus has just kinda sped the process up a bit.. 

Some, sure, but others, when 95% of a companies revenue disappears overnight, i'd say no. What about for example, Pret (dont know their current financial position) they must rely not just on people being out and about but all those office workers nipping out at lunch time. If they went bust you couldn't reasonably say it was down to them being a doomed business,  they were already heading that way, etc.

Now, if was say Ford or GM and in ten years time they are complaining that their business has gone to zero because they have insufficient electric models and too many petrol , well yeh they had plenty of time to cope with a foreseeable future and acted too late.