23/01/2022
“We have brought down the debt to Rs 3,100 crore as on March 31, 2020, from Rs 7,200 crore in March 2019, without a single rupee of haircut from lenders.”
No one could've imagined this statement released by Cafe Coffee Day just two years after it's CEO, late Mr. V.G. Siddhartha of Cafe Coffee Day passed away and left a surmounting debt behind him.
And behind this unthinkable transition is a gritty leader - Malaivika Hegde, wife of late Mr. Siddhartha.
In fact, CCD's actual debt today is merely 1731 crore!!
To deal with the personal loss of such magnitude and then defy all odds by reviving a business during the most testing times the hospitality industry has ever seen (during Covid Wave 1 & 2), is simply inspirational!
The grit and acumen of the leader is praiseworthy. CCD has been a beloved coffee chain that made cappuccino drinking a habit across India. I wish her all the success and am rooting for her.
Goes to prove all over again; Nothing is impossible!!!
