August 2 By Jason Cohen
Starbucks announced last week it is closing all of its 379 Teavana locations, including the one in the Queens Center Mall.
Starbucks purchased the company in 2012 for $620 million, but according to a press release issued by the coffee chain, Teavana has been “persistently underperforming.”
All locations will close by spring 2018.
“Following a strategic review of the Teavana store business, the company concluded that despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue,” the press release stated.
Roughly 3,300 people will be laid off.
Upon closure, Teavana’s products will continue to be sold at Starbucks and grocery stores.