Newspaper article The Canadian Press

Coffee Shop Chain Second Cup Establishes Special Committee to Review Options

Newspaper article The Canadian Press

Coffee Shop Chain Second Cup Establishes Special Committee to Review Options

Article excerpt

Second Cup forms committee to review options

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MISSISSAUGA, Ont. - The Second Cup (TSX:SCU) said Monday it has established a special committee to review its strategic options.

The creation of the committee follows comments by the company earlier this year that it was pursuing options to refinance its debt.

Such strategic reviews by companies often result in a sale or other major transaction.

The coffee shop chain has struggled in the past few years to hold onto market share as rivals such as Tim Hortons and Starbucks have increased their presence.

Tim Hortons increased its store count by 25 locations in Canada its latest quarter to bring its total to 3,717 in this country. It had 3,615 Canadian locations in its third quarter last year.

Starbucks had 1,378 Canadian locations at the end of its third quarter on June 26 compared with 1,348 locations at the end of the same quarter last year. …

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