Cook's Triple Two Coffee owes creditors nearly $700k

A voluntary liquidator has been appointed to Triple Two. (Image: Triple Two)

Mon, 06 Nov 2023

Cooks Coffee Company’s Triple Two Coffee business is estimated to owe its creditors £336,658 (NZ$695,253), but the bulk of that is intercompany loans.In late September, the New Zealand stock exchange-listed Cooks Coffee indicated that it expected to appoint administrators to the Triple Two coffee franchise business that it bought in 2020.While it was “growing rapidly” before the pandemic and had shown continuing momentum in the last financial year, “this momentum has not been able to be maintained, and the bus...

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