Tully’s sells out most of its assets

Photo of Tullys HQ by flickr user reverendkomissar; used under Creative Commons
While all the headlines have been about Starbucks closing 600 stores, Tully’s has been very quietly closing its coffee shops here in Seattle and elsewhere. And now, they’ve sold half their business to Vermont-based Green Mountain Coffee.

The money quote:

When asked if Tully’s is considering adding new products, a la larger rival Starbucks, O’Keefe replied: “We stay focused — we don’t sell furniture. We’re a coffee company; we do what we do.”

Considering how they’ve already closed several formerly major shops in town and have only posted one profitable quarter in sixteen years, I think they may be selling furniture soon enough. (There’s a nice table at the Ballard Tully’s I have my eye on.)

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