Huge coffee company files for bankruptcy protection
The coffee company has filed for bankruptcy after failing to renegotiate its debt.
A combination of economic issues rocked the coffee industry over the last year, causing financial distress for coffeehouses and roasters and forcing several to close up shop and, in some cases, file for bankruptcy.
Rising coffee bean commodity prices, increased labor and product costs driven by inflation, higher interest rates on debt, and cautious consumers, when it comes to buying quick-service food and drinks, have all impacted the industry.
