Blenz Investor Alert: Danger!
If you were considering investing in the once powerful and quickly growing Blenz Coffee, and you noticed that they were losing prestigious retail location after prestigious location every few months, you might be wise to do a little extra research.
The sudden closure of the Blenz Coffee at Pacific Centre this week is just one of now many in a string of closures over the last 24 months.
You can read all about the different closures here:
Blenz Coffee St. Paul’s Hospital: It was owned by a Franchisee, then by the Burrard Hotel, then suddenly all signs of Blenz disappeared and they now sell JJ Bean)
But it doesn’t end there.
Another red flag that started waving a few months ago that should have raised a few eyebrows was the sudden and quiet sell off of what was previously their pride and joy: the Library Square Corporate Training Centre where they hosted public events and tried out innovative drink ideas. Within a flash it had been halved in size and sold off to a fresh new ‘franchise partner’.
Another even more devastating blow to the brand are the growing number of lawsuits against the former Vancouver coffee powerhouse including one filed by a small group of franchisees and another by a previous head office employee.
Will Blenz Coffee be able to pull out of the obvious tailspin? Will Mark West, be able to save the day?
Stay tuned for more news on Blenz Coffee and other coffee related news.