Stelios says adios to half his chain...
By John Oates
Published: 18 October 2001 13:40 GMT
Easy empire tycoon Stelios Haji-Ioannou is putting half his internet cafés up for sale.
The decision was made when the original investors refused to convert their stake into shares, opting for cash instead. Stelios has put another £15m into the chain.
Half the stores are up for sale to franchisees. Only London, Paris, New York and Amsterdam will be kept.
Company spokesman James Rotheney said cutting back on stores in Barcelona, Berlin, Brussels, Madrid, Munich and Rome will give them economies of scale. The plan is to find local entrepreneurs to run the stores.
Asked what the company will do with the additional £15m in funding he said: "We'll tell you when we've spent it."
Able to listen and convert customer knowledge to support the sale of a viable solution This career opportunity with one of the fastest growing ...
We are carpet & flooringretailer with over 28 stores. We are currently have existing stores and looking at new stores in Kent, Sussex and Hants area. ...
Retail giant based on the south coast require a Supply Chain Value Analyst who will be accountable for managing the end to end supply of a specific ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Digg
Slashdot
Del.icio.us
Stumble
Reddit
RSS Feeds
Rob Bamforth Plenty of life ahead for RFID and NFC From waving your phone at shopkeepers to saving electrical workers' lives
Peter Cochrane Peter Cochrane's Blog: How the telcos could save themselves Doomed network operators could thrive with a bit of innovation