Gloria Jean’s to close stores


Gloria Jean'sAustralian coffee franchise, Gloria Jean’s, will close up to 25 company-owned stores next month, as it sets to become a franchise only business.

The move comes after the chain was acquired in December by Singapore company Global Yellow Pages (GYP).

Executive ­chairman and ­co-founder of Gloria Jean’s, Nabi Saleh, told the Australian Financial Review the planned expansion of the coffee chain, that has about 800 stores throughout the world, means it can no longer focus on owning and running stores.

“Owning retail property ourselves is a distraction from our primary ­business strategy,” Saleh told the AFR.

“By March 31 our goal is to either have all these coffee houses ­successfully franchised or closed.”

Gloria Jean’s has around 400 outlets across Australia, with corporate run stores located in five Australian states.

The company says it is too early to say which stores would be closed or how many stores could be converted into franchises.

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