Whittard of Chelsea

Whittard of Chelsea is a British chain of shops selling coffee, tea and related products. It was started by Walter Whittard in 1886, and remained in his family until 1973. In 1996 it was floated on the Alternative Investment Market, and expanded rapidly, building a chain of about 120 shops and several tea rooms.^[2]: 195 It went bankrupt in 2008; more than fifty of the shops were closed, and the company was restructured into private equity ownership. ^[2]: 195 The chain has more than fifty shops in the United Kingdom,^[1] and one in Taiwan.^[3]

Whittard of Chelsea

A Whittard store on Lands Lane in Leeds
Industry	retail
Founded	1886; 139 years ago (1886)
Founder	Walter Whittard
Headquarters	Didcot, Oxfordshire
Number of locations	55
Area served	worldwide
Products	tea, coffee, related products
Owner	Epic Private Equity[1]
Website	whittard.co.uk

History

The company was started by Walter Whittard, who opened a tea shop in Fleet Street in 1886, and remained in his family until 1973. In 1996 it was floated on the Alternative Investment Market, and used some of the proceeds of the float to expand rapidly, building a chain of about 120 shops and several tea rooms.^[2]: 195 It made heavy losses in an attempt to establish an internet sales business, which was closed down in about 2001.^[2]: 195 After further financial difficulties, it was sold to the Baugur Group, an Icelandic investment company, in 2005 for about £21 million.^[2]: 195 In the year to the end of March 2007, Whittard reported a loss of £3.2 million.^[4] Baugur went bankrupt in the 2008–2011 Icelandic financial crisis, and Whittards also went into receivership. It was sold to Epic Private Equity for £600,000. More than fifty of the shops were closed, and the company was restructured.^{[2]: 195 [4]}

In 2016 Whittard opened a tea-bar in its Covent Garden shop.^[5]