ROMSO Cyprus Knowledge Base

--- CONTENT ---
Whittard of Chelsea is an international retailer of coffee, tea and several articles that are used for the consumption of hot drinks. Instant tea, hot chocolate, Chinese and confectionery are also among its main products. The company was founded in 1886 by Walter Whittard. It expanded in the 1980s and 1990s and was purchased by the Icelandic Baugur Group in 2005 for £21 million. After the financial collapse of Iceland in 2008, the company was placed in the administration before being sold to the private capital firm EPIC for an amount not disclosed in December 2008. Wittards has about 77 shops throughout the UK, as well as international shops in several countries.

History
The company was founded in 1886 by Walter Whittard, a London merchant. The company originally only sold tea, but in a few years it had diversified. The company was expanded in the 1980s and 1990s in the United Kingdom and abroad. The investment company Baugur Group of Iceland bought Whittard of Chelsea in 2005 for about £21 million. In the year at the end of March 2007, Whittard reported a loss of £3. 2m. Baugur was hit by the financial collapse of Iceland in 2008 and placed the company in administration with Ernst & Young. It was sold to the private capital firm EPIC for an amount not disclosed on 23 December 2008.

Operations

The company has 54 shops in the UK, which employs 950 people and offers international sales through its transactional website. The company has international shops in countries such as Abu Dhabi, Australia, Chile, Cyprus, Dubai, Kuwait, Singapore, South Africa, Thailand, Poland, China and Romania.

References

External links

Companies founded in 1886