AMT Coffee Limited – administration

AMT Coffee Limited, a coffee chain with sites predominately in train stations, hospitals and airports across the UK and Ireland, entered administration on 18 November. The company was significantly impacted by COVID-19 and the associated trading and travel restrictions, having made losses of £1.9 million, £3.2 million and £1.2 million respectively in the previous three financial years. The management team had been implementing a turnaround plan focused on repositioning the brand, its product offering and the quality of its sites, but trading continued to be challenging. In the nine months to September 2022, the business accumulated losses of £1.0 million, which management attributed to the ongoing reduction in commuters following the pandemic, the loss of key sites and the inflationary trading environment. On their appointment, joint administrators Nick Holloway and Will Wright of Interpath immediately sold the business to travel caterer SSP Group plc for £1.75 million via a pre-pack sale. The joint administrators were assisted by Jonathan Richards, Sarah Letson, Ben Stafford and William Floyd of DLA Piper. National Westminster Bank PLC has two registered charges against the company, while each of Triple Point Advancr Leasing PLC and Dpk Real Estate Services Limited has one.