160 stores across the country are being shut down by Caribou Coffee, half of the locations being reopened as Peet’s Coffee and Tea Stores. The coffee company’s main goal with the store closings is to focus more on it’s home market in Minnesota.
News spread of the closing via closing signs in store front windows, Twitter postings, word of mouth, and various news reports. In Ohio, employees were told that all 36 of its stores would be closing. Managers outside of Minnesota were told that 80 underperforming stores would be closing. Details on the underperforming stores are not available yet. Another 80 stores will be converted into Peet’s Coffee and Tea stores. Peet’s Coffee and Tea is another coffee chain owned by the same private German equity group, Joh A. Benckiser.
After Minnesota, Illinois featured the most stores, 66, however all but four of these stores will be closing.
While stores in Minnesota were stated to remain open, however, a store in Minneapolis, MN has been announced to be closing as well.
Caribou Coffee has not made an official statement on the closings, but has acknowledged that these stores will be closing. All closings will be effective April 14th.