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Caribou Coffee to close 80 stores

8:15 PM, Apr. 8, 2013  |  Comments
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Caribou Coffee will close 80 underperforming stores and rebrand another 88 Caribou outlets to Peet's Coffee & Tea, just five months after the Brooklyn Center, Minn.-based company was bought by a German company for $340 million.

In a statement Monday, Caribou didn't name which stores it would be closing April 14. Caribou will remain a chain of 468 outlets in Minnesota, the Dakotas, western Wisconsin, Iowa, Kansas, North Carolina and Denver.

Caribou coffee houses in Ohio, Michigan, Pennsylvania, Maryland, Georgia, eastern Wisconsin and Washington, D.C., will be converted to Peet's.

Caribou has 10 locations in southeastern Wisconsin, including Madison and Milwaukee, and eight in western Wisconsin.

Five of seven stores in the Milwaukee area are closing, according to The Business Journal Serving Greater Milwaukee. The fate of the others was not immediately available.

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