Seven metro Atlanta malls will get hit by Starbucks' announcement that it is closing a chain of tea stores it bought just five years ago.
Starbucks paid $620 million in 2012 for Teavana, a deal that paid off big for an Atlanta couple that built the retailer from scratch. Local stores that will be closing include ones in Lenox Square, Phipps Plaza, Cumberland Mall, Perimeter Mall, Mall of Georgia, Northpoint Mall and Town Center at Cobb.
It turns out tea apparently wasn't Teavana's problem. Find out more in my latest Unofficial Business column on MyAJC.com.
