Three landlords and a former Tully's store manager jointly filed a petition in federal court in Seattle seeking to force the coffee chain into bankruptcy, reported The Seattle Times. By filing the petition for involuntary Chapter 7 bankruptcy against Tully's parent company, Global Baristas US, the four creditors are looking to collect overdue debts of $200,000.
The petitioners are among dozens of landlords, vendors, and other creditors who've won judgments for unpaid rents, goods, and services after Tully's halted retail operations. The court ultimately will decide whether to move the petition forward and declare the debtor bankrupt, according to the report. Full Story
Related: Tully's Coffee to Likely Remain Closed; Keurig Sues Global Baristas Over Tully's Coffee Name.
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