Caribou Coffee to close 80 stores nationwide - KTTC Rochester, Austin, Mason City News, Weather and Sports

Caribou Coffee to close 80 stores nationwide

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MINNEAPOLIS (AP) -- Some Caribou Coffee lovers may need to look a bit further for their caffeine fix.

The Minneapolis company said Monday that it is closing 80 underperforming stores and converting another 88 stores to Peet's Coffee and Tea sites.

Caribou says it is making the changes to better position the coffee company for long-term growth. The company says the store closures will occur in April but did not disclose where. The conversions will occur over the next 12 to 18 months in nine states.

At least two Minnesota shops — the Caribous at 5309 Lyndale Ave. S. in Minneapolis and 6600 Lyndale Ave. S. in Richfield — are among those slated for closure on Sunday, April 14, the Pioneer Press reports.

Rumors of the closures began this weekend after employees and customers at several Caribou Coffee locations in Illinois, Ohio and North Carolina were greeted by "store closing" signs, according to various media outlets.

Caribou was taken private last year by a German investment firm that also holds a majority stake in Peet's.

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