Go Upstate.com of Spartanburg reports that the Dunkin’ Donuts shop at 2634 Highway 9 in Boiling Springs failed to open Monday, but the South Pine Street facility is still serving. Customers stopped by for a snack on Thursday, but said they were met by locked doors and an empty store.Read More »
Steven E.F. Brown reports in the San Francisco Business Times that Peet’s Coffee & Tea Co plans to buy Diedrich Coffee Inc. for $213M in cash and stock. Emeryville-based Peet’s (NASDAQ: PEET) will pay $26 per share for Irvine-based Diedrich, which has about 150 workers. Diedrich’s brands include Gloria Jean’s, Black Tiger and Flor de Apanas.Read More »
Robert Gibbens writes in The Gazette that Tim Hortons Inc. said Friday it is boosting restaurant prices in Quebec and the Maritimes next month to offset higher operating costs. The fast-growing franchise chain has 2,971 units in Canada and another 556 in the United States.Read More »
The New York Post reports that this flame-engulfed Dunkin’ Donuts in The Bronx is among 14 businesses that were gutted early yesterday by a fast-moving fire that sent plumes of smoke into the night sky. The massive, five-alarm blaze took 200 firefighters more than four hours to put out as it spread down Bainbridge Avenue in the Bedford Park section at 4 a.m.Read More »
Michael Braga writes in the Sarasota Herald Tribune that Bill Daly swept down from Massachusetts two years ago with the goal of expanding his Dunkin’ Donuts franchise. For $11.15 million, he was able to buy a majority stake in the largest Dunkin’ Donuts chain on Florida’s west coast — a chain with 18 stores from Bradenton to Punta Gorda and a bakery large enough to service twice as many eateries. After closing the deal in August 2007, Daly announced he would build 26 new outlets in five years and would eventually increase his Florida payroll from 200 to 1,000 people.Read More »
Rajiv K. Trivedi writes an interesting article on Compliance in the September 2009 issue of Franchising World, which is a publication of the IFA (International Franchise Association), an association of franchisors.Read More »
Emily Bryson York reports in Advertsing Age that Dunkin’ Donuts is working with a new house blend: It’s got a new president, chief marketer and operations manager. Nigel Travis, who has been transitioning into the president-CEO role, has also hired new heads of communication and human resources. John Costello, Dunkin’ Donuts’ new marketing chief “It sounds to me like they’re looking for some fresh perspective and insights from the marketplace and not the just from the coffee and doughnut space,” said Technomic’s Darren Tristano. “After awhile, getting a fresh perspective on a pretty old brand can’t hurt.Read More »
The Boston Business Journal reports that CIT Group Inc. filed for bankruptcy protection Sunday after its board of directors approved of a plan to reorganize the giant small business lender. The plan has also been approved by CIT’s creditors. “The decision to proceed with our plan of reorganization will allow CIT to continue to provide funding to our small business and middle market customers, two sectors that remain vitally important to the U.S. economy,” Chief Executive Jeffrey Peek said in a statement.Read More »
Tim Mclaughlin reports in the Boston Business Journal that Citizens Bank could get a new owner if the European Commission forces parent company Royal Bank of Scotland to sell more assets than what executives originally anticipated.
RBS, whose shares fell as much as 13 percent Monday, said in a brief statement that negotiations with the EC will include some divestments not initially contemplated.