For most of the pandemic, food/bev businesses worked hard to hang on and last through this period. Not Starbucks. They did the opposite. As soon as they could, it seems they shut down their locations. Locations that had barely been open a few years were shuttered. Even this location above, on Eglinton Avenue just east of Yonge in Toronto closed up despite a steady flow of customers even during the pandemic.
Apparently at the start of the pandemic their goal was to close 400 stores over 18 months. I would not be surprised if more than that closed.
I wonder what the fallout for all this will be? One thing for sure, the idea of getting Starbucks as a tenant will likely lose its lustre when they do come back and want to expand. Then again, given that people are reluctant to go back to the office, that expansion could take some time.
Smart People I Know 