Tuesday, December 5, 2017

Simon Malls Forcing Starbucks to Keep 77 Failing Teavana Stores Open

Image result for teavanaIn 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

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