Starbucks Stuns by Announcing Massive Closures

america
July 27, 2017Jul 27, 2017

If you liked Teavana, then you’re going to be sad about this news. Starbucks announced today that they would be closing down all 370 Teavana locations.

The decision comes because the Teavana locations, which are primarily located in malls, have been "underperforming" according to Starbuck’s standards.

“The move will impact 3,300 workers,” reports CNN Money.

Starbucks explained their decision in a press release. They cited a downward trend they saw, which they thought couldn’t be changed by creative marketing.

"The company concluded that despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue," Starbucks said in a press release.

The majority of locations are slated to be shuttered by Spring 2018. While 3,300 people will lose their jobs, Starbucks encourages people to apply for jobs at their coffee shops.

Will you miss Teavana, or is there somewhere else you already prefer to get your tea? Teavana isn’t the only store in the mall. We also reported a recent clothing store closure.

Next: Popular Children’s Store Filing for Bankruptcy, Closing Up to 450 LocationsJun 12, 2017