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Starbucks closing 200 Canadian stores

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The last three months hasn’t been easy for businesses and especially restaurants with the global shut down due to COVID-19.

Starbucks closing 200 Canadian stores
Starbucks closing 200 Canadian stores

Even the giants are feeling the pinch like Starbucks which has lost over $3 billion in sales in this past quarter. The US based chain has issued a statement this week that was sent out to all their shareholders, “As our business recovery continues, we are now laying the foundation for a more transformational phase — ‘restore and build resilience’ — enabling us to accelerate the transformation of our business.”

Starbucks have said they will focus on opening more stores around the world like China and is pulling back on new locations in North America.

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