Administration survivor Puccino's expands range
15 January, 2010
The Puccino's outlets bought from administration last month are to sell an expanded range of sandwiches and hot savouries as the company looks to consolidate in 2010.
Puccino's Ltd, which had operated 86 franchised and company-owned cafes and coffee kiosks, went into administration last month with 29 units ceasing trade immediately. The company had also previously closed 14 outlets.
The leases for the remaining 43 units, which are all run under franchise, were sold to a newly formed company called Puccino's Worldwide. The firm's operations director Tony Brogden told British Baker that Puccino's had gone into administration because of the "appalling" economic climate. "We are looking to consolidate the business in 2010 and grow turnover for our franchisees," he said.
To help achieve this, Puccino's is currently in talks with its bakery suppliers about developing a new range of sandwiches, hot savouries and pies, as well as introducing healthier and gluten-free items, said Brogden. "Most of our outlets are at travel locations such as railway stations, so we are looking to develop our grab-and-go range," he added.
The company is also looking to open more franchised outlets in the UK as well as internationally, with interest already expressed from a party in Egypt, and mainland Europe a possible target, said Brogden.
In its accounts for the year ended 31 December 2008, Puccino's saw a loss before tax of approximately £1.66m on turn-over of nearly £4.1m.