Wednesday: Q13 FOX joins local media & community partners to address Seattle’s homeless crisis

Tully’s Coffee being sold, but will keep shops here open

SEATTLE — Tully’s Coffee Corp., which recently filed for Chapter 11 bankruptcy protection, is selling its chain of 47 coffee shops in Washington and California to Colorado-based Kachi Partners for $4.3 million, the company said Wednesday.

The sale is expected to be completed by year’s end. Tully’s filed bankruptcy in October.

Kachi will continue operating existing stores under the Tully’s name, the news release said.

“With this agreement in place with Kachi, we believe the business is positioned to emerge from this process in early 2013 and that we will be a much stronger company as a result,” said Scott Pearson,  CEO of TC Global Inc., which is the parent of Tully’s Coffee.

Filed in: News

Suggest a correction

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s