Sale of bankrupt Tully's not a done deal

SEATTLE — The fight to take over the bankrupt Tully’s Coffee chain may not be over, and the sale to a group of investors led by actor Patrick Dempsey still has not closed.

One of the losing bidders now wants to challenge the sale in court.

KIRO 7 Eyewitness News reporter Deborah Horne spoke with a Tully’s customer who thought the sale of the 47-store chain was already official.

“Oh, I thought that was resolved,” said customer Carol Troup.

In January, Dempsey’s investor group won a $9.1 million bid over other groups, including Starbucks.

“It’s a big company to go up against with deep pockets and to pull that off was remarkable and we were really excited by that,” said Dempsey.

Even though Dempsey’s group won the bid, the deal still has not been sealed.

This week, the ANI investor group that lost out to Dempsey sent a letter to the bankruptcy judge seeking a status hearing and that the group continues to be interested in acquiring Tully’s.

In a statement to KIRO 7, Dempsey’s group shot back and said, “There is no risk the transaction will not close and any suggestion to the contrary is baseless and irresponsible.”

Troup doesn’t envy anyone trying to save the bankrupt chain.

“Tully’s has had a hard time competing over the years,’ Troup said.

Customer Peggy Jackson thinks the continued competition for the company is good news.

“I like to have options. I like to have, you know, competition in the market,” Jackson said.

The letter sent to the bankruptcy judge wasn’t sent until this week. At this time, it is not official if the judge will hold a status hearing.

Dempsey’s investor group said it has given another $350,000 to keep the chain and its 500 employees afloat, but they still do not have a date when the sale will be finalized.

KIRO