SSP Group has acquired 25 of AMT Coffee’s 43 UK outlets from administrators Interpath Advisory, resulting in the loss of around 100 jobs
An AMT Coffee store at Cork airport | Photo credit: AMT Coffee
UK-based AMT Coffee has been sold out of administration to SSP Group, which will retain 25 of the coffee chain’s 43 outlets.
SSP will continue to operate the AMT Coffee under its existing branding, with approximately 200 employees retained across the locations.
However, 18 AMT sites face immediate closure with the loss of around 100 jobs, including roles at the coffee chain’s head office.
AMT Coffee, which has a large presence in airports and train stations across the UK and Ireland, saw sales fall 63% in 2020 to £7.6m ($8.7m) after pandemic restrictions decimated commuter footfall.
“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. Regrettably, a total of 18 sites which have not transferred to the purchaser will close with immediate effect, with approximately 100 employees across those sites and the company’s head office being made redundant,” said Sam Birchall, Interpath Advisory.
SSP Group operates food and beverage sites in airports and railway stations across the UK and Ireland. Its portfolio includes licensed stores of Greggs, M&S Simply Food, Starbucks and LEON, as well as sites of its own brand concepts Upper Crust and Soul & Grain.
Announcing its fourth quarter results ended 30 September 2022, SSP Group said projected revenues were ahead of its previous full year guidance of £2bn ($2.17bn), with a recovery of domestic and leisure travel driving overall revenues to 91% of pre-pandemic levels.
The group expects to return to pre-pandemic trading levels by 2024.