Posted on 12/03/2017 8:41:50 AM PST by Maceman
An Indiana judge has taken an unusual step and temporarily barred Starbucks from closing 77 failing Teavana stores in Simon Property Group malls because the real estate giant was less able to handle the financial pain.
Starbucks said in July it planned to shutter its 379-store Teavana operation but Simon rushed to court to block 77 stores in its malls from going dark claiming such a move by a high-profile tenant could spark other stores in its malls to close.
Starbucks, after trying to turn around its stumbling tea chain, said last August it was pulling the plug on Teavana.
It wanted to close all the stores by the end of the year.
But Indianapolis-based Simon, in an environment where hundreds of stores across the country are closing, rushed to a local court to ask Judge Heather Welch to stop the store closing.
Welch, in a 55-page order, found that the very profitable Starbucks could absorb the financial hit estimated by Starbucks to be $15 million over five months better than Simon could. The mall operator did not provide an estimate of how much the closings of the Teavana stores would hurt them.
(Excerpt) Read more at nypost.com ...
I hate it when current events mirror events written by a prescient author 50+ years ago which was originally intended as some kind of evil future avoidable, like the vision of “The Spirit of Christmas Future” but only if we heed the author’s warnings.
Hate it.
Yet, here we are.
lol. Typical liberal comeback. Not shocking at all. You just prove I am right.
According to the lawsuit, Starbucks is VIOLATING ITS LEASE AGREEMENT.
Not supposed to quote USA Today, so I won’t. But the article below claims Starbucks was sued to prevent it from breaking its contract. And yes, it WOULD be reasonable to rule that someone has to abide by the terms of their lease:
They sued “on the grounds that Starbucks had signed leases for those stores, and closing them before the end of the lease was Starbucks shirking its contractual obligations.
https://www.thedailymeal.com/starbucks-teavana-closing-lawsuit-simon-property-group/12317
Mall leases always require that the store remain open during specified hours.
Wow, right out of Atlas Shrugged.
No I proved you are and continue to be a troll.
According to you, rogue judges are fine as long as they are on our side. Typical liberal logic.
When I voice an opinion contrary to yours on that, you go berserk. Another liberal reaction.
You are a joke and not funny. You don’t have an original thought in your body. You said exactly what I said about you. You aren’t even worth talking to because you are very uneducated. Bye. You are totally worthless. Don’t bother replying because you can’t string a sentence together and are a complete bore.
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