Issa brothers’ EG Group fails in Caffè Nero bid

Issa brothers

EG Group, the petrol forecourts empire of Asda’s new owners the Issa brothers, has failed in a bid to buy Caffè Nero.

Mohsin and Zuber Issa’s group made the offer on Sunday evening, just hours before a crunch meeting between the coffee chain and its creditors.

Caffè Nero is seeking approval for a company voluntary arrangement (CVA) after its sales slumped during the coronavirus lockdowns. 

The business dismissed the offer as “opportunistic” last night and vowed to press ahead with its CVA plan. 

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.