"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 under pressure, however, thanks to rising costs and growing competition. Even Starbucks, the nation's largest coffee chain, has been feeling the pain. The Seattle coffee giant in September announced plans to lay off about 900 non-retail workers and close about 1% of its North American stores amid declining same-store sales."
"Last week, a Florida coffee chain known for its unusual flavors and Instagram-ready "coffee flights" filed for Chapter 11 bankruptcy protection in a federal court. The Blend Coffee and Cocktails, which operates eight locations in Florida, is seeking to continue operating while restructuring its debts under court supervision. The Blend's bankruptcy lawyer didn't return a request for comment about the reason behind the consolidated bankruptcy effort. Court documents listed a wide range of creditors, including landlords, vendors, and tax collectors."
Coffee consumption is rising, with 66% of American adults drinking coffee daily, a 7% increase since 2020. Coffee shops face mounting pressure from higher input and labor costs and intensified competition. Starbucks announced layoffs of about 900 non-retail workers and planned to close roughly 1% of North American stores amid falling same-store sales. A Florida chain, The Blend Coffee and Cocktails, filed for Chapter 11 and seeks to continue operations while restructuring debts across eight locations. Court filings show creditors including landlords, vendors, and tax collectors. Business bankruptcies have risen since 2021, and ground coffee prices have roughly doubled.
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