Citing Debts, Florida-Based Coffee Chain Officially Files for Bankruptcy

Multiple coffee chains file for bankruptcy across US

American coffee companies have been grappling with inflation, tariffs and supply issues in recent months.

Citing debts, Florida-based coffee chain officially files for bankruptcy

Florida-based coffee chain The Blend Coffee & Cocktails filed for Chapter 11 bankruptcy Tuesday. The chain listed its liabilities as between $500,001 and $1 million, with between zero and $50,000 in assets, according to court documents filed in the Florida Middle Bankruptcy court.

Here's a list of popular coffee shops that have filed for bankruptcy amid rising prices

Coffee shops seek bankruptcy protectionANGELA WEISS / AFPThe Blend Coffee and Cocktails filed for Chapter 11 bankruptcy in Florida.Coffee remains popular, but the cost of beans and workers is rising.Even Starbucks has been cutting costs and closing stores.Coffee is a growing American pastime. Some two-thirds of American adults, 66%, drink coffee daily, up 7% from 2020, according to the National Coffee Association, a trade group.Coffee shops are …

LifeScan Wins Court Approval to Exit Bankruptcy and Slash 75% of Its Debt

MALVERN, PA — LifeScan Inc. announced that the United States Bankruptcy Court for the Southern District of Texas has approved its Chapter 11 Plan of Reorganization, clearing the way for the company to emerge from its financial restructuring by the end of the year. The approved plan will eliminate more than 75% of LifeScan’s debt, significantly strengthening its balance sheet and enabling renewed investment in growth and innovation. The company e…

66-year-old appliance company files for Chapter 11 bankruptcy

Technological progress in industries has led to the demise of companies and whole business sectors throughout history. A classic example of the collapse of an industry caused by technological advancement was the death of the video retail sector as video streaming services took hold in the…