Catalyst Coffee Trading Plc said on Wednesday it had decided to close its Dublin and Cork trading offices.
The company has been struggling to attract customers since a Brexit vote in June and is now looking for cash to cover a post Brexit surge in the coffee market.
It is the second Irish coffee company to shut down this year.
The closure comes as the UK Government plans to introduce a new system to protect investors from loss of profits in the event of a financial crisis.
In addition, Catalyst has closed two other locations.
In its statement, Catalyst said it had already had to cut its workforce to about 80 people.
It added that it would be able to keep on providing service in Ireland in the long term but its focus was on securing a strategic exit from the EU.
Catalyst has a long-standing relationship with Irish coffee chain St John’s Coffee, which employs about 80 staff.
It has a significant presence in the US and Australia, and has also developed a strong relationship with the Irish coffee industry.
The decision to close the Dublin and Cardiff offices follows an increase in coffee demand in Ireland after the Brexit vote.
The move comes at a time when Ireland’s coffee market is struggling to cope with Brexit’s economic impact.
It accounts for around 15 per cent of the country’s coffee sales.
EU rules require companies to offer customers in the bloc an average of six months’ notice before trading.
However, this has not been enough for coffee companies in Ireland to meet demand, and many have resorted to buying up coffee markets in the hope of securing a higher price.
The UK’s Department for International Trade (DIT) has been encouraging coffee companies to take advantage of the “pre-Brexit” boom in the UK market, but is not yet able to act on this directly.
According to the Irish Times, the Department said that it is working on plans to support the coffee industry and help investors avoid losses as a result of Brexit.
A DIT spokesperson said that the agency has been working closely with the sector to ensure that the financial markets are fully protected for investment in the Irish market, and that the EU has provided the UK with additional support.
“The DIT has also been working with the industry to make sure that there is sufficient liquidity in the market for businesses to make long-term investments, and to ensure the trading system is robust and that there are adequate safeguards in place for investors and consumers,” the spokesperson said.
The New Zealand coffee trade is booming, but there’s a long way to go before it becomes as widespread as in the US.
The country’s population of around one billion has nearly doubled in the past decade, and the number of coffee shops is now larger than any other in the world.
The coffee trade has been a part of the country’s life for more than a century, and there are about 600 coffee shops in New England.
“We’re starting to feel the effects of globalization and the introduction of cheaper goods into the coffee market,” said Michael MacGregor, president of the New Zealand Coffee Association.
But the industry is still relatively small.
New Zealand has a small population, about 500,000 people, and about 40 percent of its coffee comes from other countries.
It’s a small part of New Zealand’s economy, and MacGregore hopes that will change soon.
MacGregor said that while the coffee trade may not be as popular as in other countries, the coffee is worth it.
It’s just a great opportunity for a coffee shop, he said.
Coffee shops in the United States have struggled to keep up with the global boom, but MacGregors believes they can.
“[The coffee] is coming in so quickly, and we can’t be complacent about it,” he said, “but we have a huge opportunity here to be part of this.”
Cigarette smoking rates have dropped, and sales of coffee and cigarettes are booming.
But MacGregores coffee trade association estimates that about one in four coffee shops will shut in the next five years.
A recent survey of coffee shop owners in the capital city of Wellington found that the average turnover of a coffeehouse was just $100, while the average weekly wage was just over $600.
If coffee shops are going to survive in New York, they need to expand, said MacGregora.
They need to have the infrastructure in place to support those new businesses, he added.
I want to see this coffee industry thrive in New Hampshire, he concluded.
“We have a lot of great coffee growers here, and a lot more people are getting into this industry.”
The American Coffee Association is one of the few coffee trade groups that does have a large presence in New Jersey, where its members have invested in coffee farms.
It has been pushing for a new trade deal with the United Nations, and says New Jersey has an opportunity to make a big dent in the industry.
The trade association is in talks with the New York state government, but says it is working with the state’s coffee farmers to craft a trade agreement.