This Beloved Coffee Brand Just Filed for Bankruptcy
Editor's Note: A previous version of this story incorrectly stated that the Brooklyn Roasting Company locations bracing for closure were the only retail locations operated by the company.
The New York-based company—which roasts, packages, wholesales, and retails coffee from all over the world—plans to shutter two retail locations in Manhattan and Brooklyn. Two other Brooklyn locations and a pop-up will remain open. At its peak, the company had as many as seven retail locations across New York City.
However, Brooklyn Roasting Company hopes to maintain its wholesale business, whose customers include Goldman Sachs, Columbia University, and several airports. (Related: 9 Restaurant Chains That Closed Hundreds of Locations This Summer.)
In 2018, Brooklyn Roasting Company was in discussions to be acquired by an investment group, which included the former chief executive officer of Dunkin' Donuts, according to the bankruptcy filing. The $22 million acquisition never took place, leaving the coffee roaster in financial turmoil in 2019. As the company began regaining its revenue footing, the pandemic stifled recovery efforts. Retail revenue fell by more than 50%, and the wholesale business suffered, too.
According to its website, Brooklyn Roasting Company has been around since 2009. Founder Jim Munson previously held executive-level management positions at The Brooklyn Brewery and Dallis Bros Coffee. One of the core values of the business is to serve a great product to customers in an unpretentious way, and to stand out from the crowd by adhering to diversity in the workplace and progressive Fair Trade purchasing standards.
The brand's colorful logo is meant to echo the company's ties to the colorful borough of Brooklyn, where it was founded. Don't forget to sign up for our newsletter to get the latest restaurant news delivered straight to your inbox.