Tully's

Business
3:00 pm
Wed October 10, 2012

Reports: Tully's Coffee files for bankruptcy

The company plans to close more stores, too.
Michael Pick Flickr

The Seattle coffee chain Tully's Coffee, sometimes lost in the shadow of the much more successful Starbucks, has filed for bankruptcy protection and hopes to renegotiate its real estate debt, report several news sources.

The Seattle Times says the company is no longer burdened by huge debt but it is cash poor and will likely close more stores.

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Coffee Culture
10:38 am
Fri March 25, 2011

Still no IPO, but another new CEO for Seattle's second largest coffee enterprise

Tully's Coffee prides itself on providing the feel of "a family room - not a living room" says a spokesman about Starbucks biggest rival's approach to coffeehouse culture.
Flickr photo courtesy dontthink.feel

Tully's Coffee has lost yet another CEO. Seattle's second biggest coffee enterprise has announced that Carl Pennington will retire at the end of this month. 

According to the Seattle Times, he is the seventh CEO to cycle through the company since founder Tom O'Keefe stepped down from the post a decade ago. 

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