Issaquah store is unaffected in Tully’s Coffee tumult
October 16, 2012
Tully’s Coffee filed for Chapter 11 bankruptcy protection Oct. 10, but the chain founded by Issaquah High School alumnus Tom Tully O’Keefe does not plan to close its local store.
The chain announced the filing and the closing of underperforming stores in Seattle, Kirkland and Redmond, plus plans to renegotiate leases for the remaining stores.
Tully’s operates a local store in Pickering Place, 1171 N.W. Sammamish Road.
O’Keefe founded Seattle-based Tully’s in 1992, just as rival Starbucks Coffee started to whet consumers’ appetites for specialty coffee. Tully’s struggled for years to earn a profit and stand out in a crowded coffee marketplace dominated by Seattle-based Starbucks.
O’Keefe stepped down as Tully’s CEO in 2001 and retired as board chairman in June 2010.