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Starbucks Has To Keep Failing Teavana Stores Open
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4 Dec 2017 09:12 PM EST


The New York Post reports, a judge is forcing Starbucks to keep 77 failing Teavana stores open in a ruling that has chilling implications for the entire retail industry.
In July, Starbucks said that it planned to close all 379 of its Teavana stores by the end of the year. The stores are primarily located in shopping malls.
Mall operator Simon Property Group responded by suing Starbucks. This in order to keep the company locked into its leases for the 77 Teavana stores that are located in its malls.
Simon argued that the closure of Teavana stores could trigger additional store closures in its malls. This at a time when shopping centers are already under pressure from falling foot traffic and widespread retail bankruptcies.

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