Starbucks Announces Plans To Close All Teavana Stores By Spring 2018

 

I’m not sure if I should have seen this coming, but I definitely did not. CNNMoney is reporting that all 379 Teavana locations will be shuttered, the majority of which will close up shop by spring of next year.

Over 3,000 employees will be affected, although Starbucks does say they are invited to apply at the cafe locations. It doesn’t sound like a guarantee of employment, though.

Starbucks has only owned Teavana since 2012, but considering they are almost exclusively in retail malls, its demise makes sense. Apparently a fourth of malls are expected to be closed in the next five years.

Yikes.

 

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