Tully's Declares Bankruptcy, Closes Stores
A little bit of not-so-great news for coffee drinkers: Tully’s has declared bankruptcy. Some worse news for Tully’s fans: the company will be closing at least one Tacoma location.
According to the press release, Tully’s is filing for Chapter 11 bankruptcy, which it hopes to emerge from sometime in 2013. The company cites “rising commodity prices and challenging lease economics” as contributing factors in its decision to close some of its stores.
In Tacoma, according to the Daily Index, the Pacific Avenue Tully’s will be closing this weekend. We’ve already lost the Old Town store, will the remaining locations still be standing when the dust of the bankruptcy re-org settles?
Filed under: Tacoma Business
9 comments
T Tom Llewellyn October 11, 2012
Remember Grounds for Coffee? Karma’s a bitch. Tully’s—feel free to leave town now and make room for local indie coffee shops.
F Flannimal October 11, 2012
whoa. so there might actually be a corner in town without a coffee shop?
J Jesse October 11, 2012
I knew this two weeks ago. But… sshhh….
Get your coffee at the Amocat!!!
R Richard Shepard October 11, 2012
Bring back the Horn & Hardart automats!
J John October 11, 2012
Try Valhalla on 6th Ave and Satellite Coffee on Division and I St. Best coffee shops in town!
A Angie October 11, 2012
I understand the desire to shop local businesses, but if named tenants can’t afford the rent in downtown buildings, then who can? At least Tully’s coffee was not bitter, and there wasn’t one on every corner.
S Silverheart October 12, 2012
The Spar’s coffee shop is a wonderful alternative in Old Town!
J John October 12, 2012
Angie, it seems as though the issue wasn’t rental costs, but Chapter 11 proceedings. Tully’s is closing under-performing shops everywhere.
J jsisbest October 12, 2012
More independent local coffee shops, please!