http://kplu.org en http://kplu.org/post/tullys-coffee-files-chapter-11-bankruptcy-protection <p>The Seattle-based coffee chain Tully’s says it’s going to reorganize under chapter 11 bankruptcy. Tully’s has long struggled to find a profitable niche amid fierce competition from its hometown rival Starbucks. A string of CEOs tried and failed to turn the company around.</p><p>Scott Pearson has been at the helm for a year and a half. He says expensive leases signed in the boom years have weighed the company down. Competition has also hurt.</p><blockquote><p>"You see in many cases some other competitor maybe catty corner to our stores and that cannibalizes your business," Pearson said.</p> Thu, 11 Oct 2012 17:09:19 +0000 Ashley Gross 6687 at http://kplu.org Tully's Coffee files for Chapter 11 bankruptcy protection