Beloved Coffee Brand Just Filed for Bankruptcy
The New York-based corporation plans to close two Manhattan and Brooklyn retail outlets.
Two Brooklyn sites and a pop-up will stay. At its peak, the firm operated seven NYC stores.
Brooklyn Roasting Company aspires to keep its wholesale business, which serves Goldman Sachs, Columbia University, and airports.
Brooklyn Roasting Company was in talks to be bought by an investment group in 2018, according to a bankruptcy filing.
The $22 million deal failed, leaving the coffee roaster in financial trouble in 2019. The epidemic slowed the company's revenue recovery attempts.
Retail and wholesale revenue plummeted more than 50%.
Brooklyn Roasting Company was founded in 2009. Jim Munson founded Brooklyn Brewery and Dallis Bros Coffee.
One of the company's main values is to deliver a superb product in an unpretentious style and to distinguish out by embracing diversity and Fair Trade shopping.
Coffee Brands That Use the Highest Quality Ingredients