Peet's Coffee & Tea to close multiple locations
Peet's Coffee & Tea plans to close several underperforming locations in Michigan and Ohio, some of which opened less than a year ago. The company reported that five of its seven locations in Michigan, which previously housed Caribou Coffee and were rebranded less than a year ago, would close in the near future. According to the company, those five locations and seven in Ohio "have not performed to our expectations and didnt have a promising future outlook." Despite the setback, the company remains on course to open several outlets in Washington DC and Chicago.