Compass Coffee Files for Chapter 11 Bankruptcy Protection
Compass Coffee aims to close 11 cafes and reject 10 leases to reduce costs amid post-pandemic challenges, impacting 143 hourly and 23 salaried employees.
8 Articles
8 Articles
Compass Coffee plans to shutter Ballston location after filing for bankruptcy
Compass Coffee plans to close one of its two cafes in Ballston after filing for bankruptcy yesterday (Tuesday). A coffeehouse at 4300 Wilson Blvd is one of 10 locations where the regional cafe chain is seeking to cancel its lease as soon as Jan. 30, according to a motion filed in D.C. bankruptcy court. Compass
Compass Coffee could go south with bankruptcy filing
Looks like your coffee beans got a little more toasted than you wanted. D.C.-based Compass Coffee has filed for Chapter 11 bankruptcy protection as it restructures parts of its business to stabilize operations. The company said all cafes will remain open and operating throughout the process. The move comes as the District’s retail and office landscape continues to struggle with post-pandemic shifts. Compass said legacy lease structures and fixed…
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