Vending

India’s Cafe Coffee Day withdraws thousands of vending machines

Logo provided.

July 2, 2021

Cafe Coffee Day, which operates a café chain as well as a coffee vending business in India, has withdrawn about 30,000 custom-made cabinets used for vending machines at customers' locations on account of the coronavirus pandemic, according to an outlookindia.com report.

Parent company Coffee Day Global Ltd reported a consolidated net loss for the year ended on March 31, 2021 as its revenue was down 73.4%.

For the January-March quarter, the revenue was down 61.4%.

One of the company's lenders has also approached the National Company Law Tribunal for recovery of its dues.

The company has also been categorized as "fraud" by Dema Bank India Ltd., formerly Lakshmi Vilas Bank.

For an update on how the coronavirus pandemic has affected convenience services, click here.