The popular global chain is set to close 400 locations in North America. This includes 200 in Canada. The company attributes the move as a necessary response to economic conditions resulting from COVID-19. As I understand it, there was already a planned move for restructuring in the works prior to the pandemic.
While I feel for the franchise owners and their staff, I see an opportunity here for further growth. There will be a chance for consumers to discover more locally-roasted products. Those local cafes will likely have mostly in-house food to go with their beverages. Perhaps some of the franchise owners will happily strike out on their own and open places, under their own banners.
Starbucks restructuring, could result in major opportunities for the coffee and cafe business.