The Chicago Tribune first reported that Caribou Coffee will be closing most of its 66 Illinois locations in the next 18 months, and converting some to Peet’s Coffee & Tea. Nationwide, 80 locations will close while 88 more transition to Peet’s.
According to Caribou President Mike Tattersfield’s statement:
Over the past few months, we at Caribou have revisited our business strategy, including closely evaluating our performance by market to make decisions that best position us for long-term growth.
While the decisions we’ve made have been difficult for our team in Minneapolis, as well as our team members across the country and our guests and fans everywhere, we are working to make this transition as seamless as possible for the Caribou community.
The decision marks a stark departure from 2011, when Tattersfield described Chicago as an important part of Caribou’s growth.
Tell that to all the customers who will now have to rethink their morning caffeine delivery routines.
In Chicago, Crain’s says that 2453 N. Clark St. and 500 W. Madison St. locations will close on Sunday, with the remaining 14 stores rebranding as Peet’s.