Patrick Dempsey Outbids Starbucks in Purchasing Tully's Coffee

Patrick Dempsey won a private bankruptcy auction to purchase Tully’s Coffee which is based in Seattle, Washington.
The purchase was made public that Dempsey’s company, Global Baristas LLC, made the winning bid to purchase the coffee shop chain against multiple bidders which included Starbucks. The company will be paying $9.15 Million to have full stake of its 47 company-owned locations throughout Washington and California. Starbucks’ bid was not fully considered due to the fact that the company only offered to purchase the 13 locations in the Puget Sound area (which includes the cities of Seattle, Tacoma, Olympia, Everett, and Bremerton) along with 12 locations within Boeing Co. offices.
Tully’s Coffee currently operates 47 locations, until the sale is finalized, but filed for Chapter 11 bankruptcy protection on October 10, 2012 and closed 19 of its locations. Some of the locations that were closed in October 2012 include four stores in California, one in Idaho, three in or near Seattle, and the rest throughout the state of Washington.
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