Bella Bottega Tully's to close as company files for bankruptcy protection
October 10, 2012 · 4:26 PM
First, the Redmond Town Center Tully's Coffee store closed on Oct. 7 and now the Bella Bottega Shopping Center location will shut its doors, a manager confirmed, due to the company filing to reorganize its business operations under Chapter 11 of the federal bankruptcy laws.
The Bella Bottega shop is slated to close on Sunday along with eight others, according to a company spokeswoman. Other closures will be in Seattle, Kirkland, Woodinville, Tacoma and Port Orchard.
Wednesday's filing coincides with the closure of these underperforming coffee shop locations and the company's plan to keep operating those that make financial and economic sense, the company said in a press release.
“After careful consideration, our board of directors and leadership team believe that restructuring under the protection of Chapter 11 is a necessary step and the right thing to do for the future of the company,” said Scott Pearson, president and CEO of TC Global, Inc., in the press release.
Rising commodity prices and challenging lease economics have contributed to this decision.
“The company will continue to have a formidable presence in the Puget Sound area,” Pearson added, “focusing on our core mission of serving the highest quality coffee in a warm and comfortable environment with outstanding customer service.”