Whittard's Saved From Becoming Westfield Casualty
Coffee and tea company bought out by private equity firm
Whittard’s has been saved from becoming the latest casualty of the credit crunch after it was bought out by private equity firm, Epic.
The tea and coffee company only recently arrived in Shepherd's Bush and is on the ground floor of the Westfield shopping complex.
Whittard’s, which was owned by Icelandic investment company Baugur, was placed into administration and the business and its assets sold to Epic for an undisclosed sum as a going concern, according to Retail Week.
All of the stores, including the Westfield branch, remain open.
Founded in 1886 by Walter Whittard, the tea and coffee company has 130 stores in the UK.
Baugur acquired Whittard for £21.5 million three years ago.