Struggling coffee chain Beanscene, which has a branch in Bell Street, St Andrews, has filed for liquidation with proceedings due to begin as early as next week.
The chain had, according to its last set of accounts, accumulated losses of £171,000 as of December 31, 2012.
Branches are expected to cease trading next week.
The company was successful for several years after its creation, establishing 16 coffee shops around Scotland and posting a turnover of £4.2million, but has struggled in recent years.
It first went bust in 2008 with debts of £3.7million.
Controversy followed when founder Gordon Richardson was investigated by the government’s Insolvency Service, which found he had transferred money from Beanscene to pay off loans for another company and he was banned from running a company for six years.
The firm’s 130 jobs were saved when Scottish entrepreneurs Fiona Hamilton and Alison Fielding eventually bought the company.
However current owner, Newton Mearns-based Stuart McKenzie, has struggled to turn the ailing company’s fortunes around and a petition has been lodged with Paisley Sheriff Court asking that the firm be wound up.