Popular DC chain Compass Coffee files for banktruptcy
Compass Coffee files for bankruptcy
Compass Coffee has filed for bankruptcy. The Washington Business Journal reports the D.C. chain is struggling with falling revenue, increased debt and lawsuits from landlords.
WASHINGTON - Compass Coffee has filed for bankruptcy.
What we know:
The Washington Business Journal reports the D.C. chain is struggling with falling revenue, increased debt and lawsuits from landlords.
Compass' 25 stores will operate as normal while the company goes through the Chapter 11 process, meaning the more than 150 employees will continue to be paid.
What's next:
The company reportedly plans to keep all stores open while it works to restructure leases.