Less than Perfect: Petersburg’s Perfect Cup Chain Closes

20430158_1620086971395852_8533663628456563139_n
The marquee of an Ideal Cup coffee house in the late 1990s or early 2000s. Photo courtesy of The Village Petersburg

Petersburg’s Oldest Chain of Coffee Houses Closes 
Olga Zarubina
RBC
July 25, 2017

 

The Perfect Cup, Petersburg’s oldest coffee house chain, has closed its last outlet, on Kamennoostrovsky Avenue. According to the sign on the door, the premises are undergoing repairs.

RBC Petersburg has learned that a coffee house in the Coffeeshop Company chain will open in its place once renovations have been completed. A Coffeeshop Company spokesman told us the opening was scheduled for September 2017.

We were unable to contact a spokesperson for The Perfect Cup. The company’s website is down. The chain’s page on the VK social network has not been updated since July 10, 2017.

The Perfect Cup (Idealnaya Chashka) coffee house chain was founded in Petersburg and modeled after the US chain Starbucks. In 2005, Scandinavian investment fund Trigon Capital bought 85% of the shares of Idealnaya Chashka, Ltd., from company founder Anna Matveyeva, but in 2011 the shares were returned to their original owner. In 2012, the chained numbered twelve outlets, but later it was reduced to three.

RBC Petersburg had previously written that The Ideal Cup changed owners in the spring of 2016. The new owners were three private investors, including Yevgeny Mikhiyenko, manager of Travelers Coffee LLC.

According to Novosibirsk news agency NGS.Novosti, the purchase cost the investors between three and four million rubles, since one of the terms of the deal was an obligation to pay off The Perfect Cup’s debts within two years. The debts exceeded the amount paid for the company by several times.

However, The Perfect Cup’s problems did not end there. In 2016, Idealnaya Chashka, Ltd. was a defendant in eleven lawsuits, totaling 6.7 million rubles. In February 2017, a bankruptcy suit against The Perfect Cup chain was filed in commercial court. The suit was never heard.

Translated by the Russian Reader. Thanks to Dmitri Evmenov for the heads-up

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s