Administrators for Coffee Republic are looking for an instant sale of the business after reporting significant interest from third parties.

The coffee bar and deli chain announced yesterday that three of its operating subsidiaries, covering a total of 187 UK and overseas outlets and franchises, were in the hands of administrators.

Richard Hill of administrator KPMG told the Financial Times he hoped to sell the brand, the company-operated outlets and the franchise operation.

“The phone has been ringing from interested parties, including some well-known names,” he said, with the strongest interest thought to be coming from existing coffee bar operators.

Potential bidders have until next Monday to express their interest with completion expected on the following Friday.