Starbucks plans to shutter up to 200 shops in Canada

By Staff The Canadian Press

Posted June 10, 2020 10:50 am

2:37Global News Morning Market & Business Report – June 10, 2020

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Starbucks is pulling back on its presence in Canada with plans to close up to 200 coffee shops.

The Seattle-based chain says it intends to restructure its company-operated business in Canada under a two-year plan.

The details were included in a letter to shareholders filed on Wednesday with the U.S. Securities and Exchange Commission.

The company outlined a number of broad changes it was introducing as a response to the COVID-19 pandemic and evolving consumer habits.

Starbucks says some of the Canadian stores up for closure will be “repositioned,” which suggests they could either move to a new area or change format.

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The company has been experimenting with locations that are pick-up only coffee shops.


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