According to American coffee giant, Starbucks, it has declared the decision of closing around 200 stores in Canada in coming two years, the media reported.
According to the reports revealed by CBC News, on Wednesday the Seattle-based company made the disclosure in a filling to United States securities regulator on Wednesday.
However, as same as others, the coffee business has stopped amid pandemic, said Starbucks that what could its business be like over the longer term as I was seeing forward.
There has been plans of opening a greater number of stores globally by the company, but in many markets across Canada and US it will have smaller footprint.
“We will restructure our company-operated business in Canada over the next two years, with the potential of up to 200 additional stores being closed,” it further told.
The current number of Starbucks outlets in Canada is about 1,400 which indicates that around 15% of the chain’s Canadian stores will experience a great closure in the coming two years.