News

Peet's pulls out of Ohio after 18 months

The company had said it planned to grow its East Coast presence from the Cleveland market; now its focus will shift to better-performing markets.

December 17, 2014

Peet's Coffee & Tea has closed all six of its remaining stores in Ohio, according to Cleveland.com. The company has also closed stores in Michigan and Pennsylvania.

The closings come just a little more than a year and a half after Peet's announced aggressive expansion plans in the Cleveland area. At the time, the company said it planned to grow its East Coast presence from the Cleveland market.

According to the story, Peet's cited underperformance at the stores as the reason for the closings, and plans to shift its focus to Chicago, Boston, Washington DC and California. It's also opening stores in Illinois, Wisconsin and Virginia.

Peet's is offering six weeks of pay and benefits to employees who lost their jobs due to the closures.