Whittard of Chelsea
Deal Status: Current. Special Situations
Whittard of Chelsea is a retailer of speciality teas, coffees and related homeware and gifts. The business has a high quality retail portfolio of more than 80 stores in the UK, an international and wholesale business and a growing web channel.
EPIC Private Equity acquired the business in December 2008 via a pre-packaged administration for £0.6 million.
Within one month, 51 loss making stores were closed, reducing the total to 79 stores, and improvements were made in store operations, point of sale and merchandising. The head office was relocated and a new management team was installed.
EBITDA losses have been significantly reduced and the business is on track to return to profitability in the year to December 2010. There exists a strong growth potential for the Whittard brand, expanding its web, wholesale and franchising channels.
Link: www.whittard.co.uk
