Beanscene, the chain of coffee shops has gone into administration. The firm, which has its headquarters in Glasgow, employs 142 staff in 14 shops across Scotland.  It was transferred to new owners in April, but they were unable to fund planned investments and called in administrators KPMG Restructuring.

KPMG said it was hopeful a new buyer would be found for the company, which continues to trade as normal.
A statement issued by Beanscene confirmed Blair Nimmo and Tony Friar of KPMG had been appointed as joint administrators at the request of Beanscene's directors.

The statement added: "Despite a turnover of £4m, the business had built an overhead base which was not sustainable by its 14 units.
"Add to this the costs of five leases which had been entered into for premises that were not fitted out or trading and the result were bottom line losses, which have continued into the current year.

"As part of a restructuring plan, ownership transferred in April 2008 to new backers and a significant injection of funds was made.
"With an unexpected change in circumstances, the new backers were unable to make further planned cash injections, resulting in the directors having no option but to place the company in administration."

The statement said the administrators were now actively seeking a buyer for the business with the support of employees, customers, landlords and suppliers. Beanscene operates from six units in Glasgow, four in Edinburgh and one each in Stirling, St Andrews, Hawick and Ayr.
Mr Nimmo said: "The opportunity now exists to acquire a strong brand name, based on quality coffee delivery in a relaxed ambience.

"We remain hopeful that we can find a buyer for the business and effect a quick sale of the company and its assets."  In the US, the economic slowdown has seen Starbucks announce the closure of about 500 coffee shops although the chain is pushing ahead with plans to expand further in Europe.

 Source BBC

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