Oh man, DavidsTea is officially closing at least 82 Canadian stores
A few more details have emerged since DavidsTea said it was filing for bankruptcy a couple of days ago. The biggest? The number of stores that it is expecting to close nationwide. And for that matter, what their plan for America is. Here’s a quick rundown.
First off, DavidsTea is simply giving up on America. They’re closing down all 42 of the stores, including those in New York, Los Angeles and Chicago.
Those are going to be joined by at least 82 Canadian store locations, bringing the grand total of unprofitable stores up to 124. For the remaining 100 in Canada, DavidsTea is going to try to work with landlords to figure out new lease agreements. So even then, not guaranteed.
In the future, the company wants to improve its e-commerce presence. Which makes sense- if you can buy anything online, why not throw some high-quality tea in there? If you want, you can read the press release in full right here.