News Column

Tully's Attracts Bids

Dec. 28, 2012

Amy Martinez

Tully's

A Tully's Coffee spokeswoman said Thursday that several bids for the troubled Seattle-based chain were filed with the U.S. Bankruptcy Court in Seattle, but the documents were not available on the court's website as of 6 p.m.

Bidders had until 5 p.m. to make an offer for Tully's, which hopes to finalize a sale by mid-January. A court-supervised auction is scheduled for Jan. 3.

Tully's spokeswoman Diane Geurts said the company likely would not comment on the bids until the auction.

Tully's filed for Chapter 11 bankruptcy protection in October, listing more than $3.7 million in debts. Last month, Tully's said it reached a deal with Colorado private-equity firm Kachi Partners to sell the business for about $4.3 million.

Actor Patrick Dempsey, star of "Grey's Anatomy," said Wednesday he's leading a group of investors who want to buy Tully's. But Dempsey did not give any details, and an attorney representing him could not be reached Thursday.

Baristas Coffee, a Kent-based chain of "sexpresso" shops, also planned a bid.

Amy Martinez: 206-464-2923 or amartinez@seattletimes.com

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Source: (c) 2012 The Seattle Times


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