EasyGroup has urged Coffee Republic to provide it with information about the coffee bar chains property portfolio.
It wants the information so it can assess the cost of running the shops, following its confirmation yesterday that it was interested in buying Coffee Republic.
The Daily Telegraph says Coffee Republic has no obligation to say anything about the leases to EasyGroup unless it gets an offer.
EasyGroup wants to convert the outlets into internet cafes.
EasyGroups Easy Internet Café has suffered in the past from leasing expensive property and its founder had to invest £15m of his own money to save the chain from collapse.
Coffee Republic previously said it would hold off on expansion and would shut underperforming bars.
It is trying to get out of leases on bars that are draining its resources.
Benjys is also interested in buying the chain and the two companies have been working hard to reach agreement.
The Times says a merger between Coffee Republic and Benjys is thought more likely to be announced on Tuesday. It had been thought it would be announced today.
Financial Times 23/08/02 page 18
The Times 23/08/02 page 25, page 25 (Need to know)
The Daily Telegraph 23/08/02 page 35, page 40 (City Comment)
The Independent 23/08/02 page 25
The Guardian 23/08/02 page 25 (Market forces)
