Coffee Republic, the coffee and deli bar operator, has announced plans to expand its company owned outlets, with a focus on shopping centres. The group, which has just over 100 stores in the UK, had previously appeared to be rolling out more of its franchised sites. Steven Bartlett, the company’s chief executive, said: “By increasing our focus on shopping malls we believe that we have identified a good model for the expansion of company owned stores. “We are encouraged by the prospects that this strategy offers. Our experience with shopping mall sites has been very positive and the new branding and product offering is proving attractive to institutional landlords.” The comments came as the company announced it has received deposits from the minimum subscription of its 500,000 pounds convertible loan note issue. Subject to receipt of the balance of the subscription monies the loan notes will be issued for cash at par on May 31. The convertible loan stock offer remains open until July 31, the company said. Under the terms of the loan note instrument a further 1.5 million pounds of loan notes may be issued prior to the final closing date of July 31, the company added.

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