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Fri 18th Nov 2022 - AMT Coffee placed into administration, 25 sites transferred to SSP
AMT Coffee placed into administration, 25 sites transferred to SSP: AMT Coffee, which operates sites in transport hubs and hospitals across the UK, has been placed into administration, with 25 sites subsequently sold to SSP Group. Nick Holloway and Will Wright, of Interpath Advisory, were appointed joint administrators of AMT Coffee earlier today (Friday,18 November). Immediately following their appointment, the business and assets of the company were sold to SSP Group, a leading provider of food and beverage in travel locations worldwide. The transaction will see 25 AMT Coffee sites transfer to SSP Group, along with approximately 200 employees who are based across these locations. The sites will continue to trade under the AMT Coffee brand name. Sam Birchall, director at Interpath Advisory, who led the transaction, said: “AMT Coffee is a familiar name to many commuters and travellers across both the UK and Ireland, so we are pleased to have concluded this transaction with such a well-established operator in SSP Group, safeguarding the future of the brand as well as a significant number of jobs.” A remaining 18 AMT sites, which have not transferred to SSP, will close with immediate effect, with approximately 100 employees across those sites and the company’s head office being made redundant. Holloway said: “The pandemic and broader economic headwinds have made this a particularly tough period for those working across the UK hospitality industry. Our priority as joint administrators will be to provide support and assistance to those impacted by redundancy.” The 25 sites transferring to SSP Group are: East Croydon station (two outlets), Evelina Hospital, Edinburgh Haymarket station, Guys Hospital (main reception), Liverpool Street station, Hammersmith Hospital (four outlets), Marylebone station, Royal Berkshire Hospital, Norwich station, Southampton Hospital, Newcastle station, Oxford station, Oxford Cornmarket, York station, Cork station, Cork airport, Connolly Dublin station, Dublin airport, Heuston station, Limerick station, and Pearse Street station. It was reported last month the business had appointed Interpath to find a buyer. This after reporting in its most recent accounts, for the year ending 3 January 2021, that it was in good position to grow and prosper following recapitalisation, with property entrepreneur David Maxwell having completed a deal for a majority stake in the business in June last year. AMT Coffee features in Propel’s Turnover & Profits Blue Book, which now contains 656 companies. The Blue Book shows in the year ending 3 January 2021 that AMT Coffee reported a pre-tax loss of £3,214,502 on turnover of £7,632,306. Prior to the pandemic, the business turned over £22,867,583. The Blue Book, which is produced in association with Mapal Group and is updated monthly, provides a five-year overview of turnover and profit, ranks companies according to turnover, pre-tax profit and profit conversion. The Blue Book also provides details of directors’ earnings and highest paid directors. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email to upgrade your subscription.

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