Chain with 16k stores to shut one of its oldest-ever locations in state – and fans left in dark over what will come next
STARBUCKS executives have confirmed that one of the company’s oldest outlets in a US state would permanently close.
For almost 30 years, the San Francisco location has been consistent.
However, the coffee shop in the San Francisco neighborhood of Pacific Heights will soon be gone.
This is because, according to KRON-TV, its doors will close on December 1.
Since its first opening in 1993, the establishment has been a fixture in the community for many years.
The chiefs have attempted to minimize the closure by characterizing it as a normal business procedure.
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“We continuously assess our business to ensure a healthy store portfolio as part of Starbucks’ standard course of business,” a spokeswoman stated.
Employees who may be affected by the closure will be able to transfer to another location, the company has stated.
Starbucks has been contacted for comment by The U.S. Sun.
When the coffee shop closes, it’s unclear what will take its place.
Local venture capitalists, however, have hope for the future.
Cody Allen of the Upper Fillmore Revitalization Project told SFGate, “We are thrilled about the chance to carry out our mission in the Upper Fillmore and replace this chain retail tenant with an exciting small business operator and entrepreneur.”
Many US retailers and grocery stores will close around Thanksgiving
Allen disclosed that the company has been inundated with interest from possible tenants.
In recent months, a large number of Starbucks stores have shuttered throughout the United States.
According to the Fox affiliate KXTL, a Starbucks coffee shop in downtown Sacramento closed its doors in June.
In September, bosses closed a store in Seattle’s downtown.
Only a few weeks had passed since managers made the decision to close two other locations in the city.
US braces for ‘45,000 store closures’
Experts have warned that in the next five years, about 45,000 physical stores may shut.
In recent years, a number of large retailers have announced shop closures or completely shut down their operations.
Chains including Mitchell Gold + Bob Williams, Shore City, Tuesday Morning, Sally Beauty, Foot Locker, and Z Gallerie have all closed.
Bed Bath & Beyond is now only an online retailer after closing all of its physical locations.
Since the beginning of 2019, the retailers most impacted have been those selling apparel, consumer electronics, sporting goods, hobbies, books, music, and home furnishings.
According to UBS, there will be 45k fewer retail locations overall—from 958k to 913k.
According to the paper, certain establishments should prosper while others should suffer.
Retailers like Target, Walmart, Costco, and Home Depot might be among the winners, it added.
The closures’ cause was not identified by the chiefs.
According to the U.S. Sun, a Starbucks location at the Lehigh Valley mall in Pennsylvania, which is around 65 miles from Philadelphia, shuttered its doors in September.
Not just Starbucks, which operates nearly 16,000 locations around the US, is reducing the number of its stores.
The nation has seen a surge in Big Lots store closures since the firm declared bankruptcy.
When the company declared bankruptcy in September, its executives expected to close over 340 outlets.
According to The Hill, the struggling chain is currently closing over 500 locations.
In Washington State, Sears is currently closing its last location.
These days, the department store business only has a few locations in the United States.
Only a few decades ago, Sears was the biggest store in the world.
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In the coming year, the AKohl’s store in Herndon, Virginia, which is around 20 miles from Washington, DC, will close permanently.
A Family Dollar store in Ohio is scheduled to close prior to Thanksgiving.
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