In the face of a retail industry apocalypse, Simon Property Group is fighting back. An Indiana judge ruled in favor of the Indianapolis-based mall operator Monday, forcing Starbucks to keep 77 failing Teavana stores open and honoring their leases. The Seattle-based coffee chain announced it planned to close all 379 Teavana locations in July. In August, Simon malls countered with a lawsuit.
Simon sought injunctions from the Indianapolis-based
court, preventing the coffee company’s store closings by alleging
Starbucks was “shirking its contractual obligations at the expense of
Simon’s shopping centers and the dozens of communities they serve and
support.”. . . more