WASHINGTON (DC News Now) — D.C.-based coffee shop chain Compass Coffee has filed for Chapter 11 bankruptcy, per court filings obtained by DC News Now, marking the city’s latest sign of tough times for the local dining landscape.
The filings and an announcement from the coffee chain came on Tuesday, along with a request for the court that could ultimately allow the chain to close 10 of its stores.
“Washington is experiencing a broad contraction across the restaurant and café sector, affecting national chains and local institutions. Rising costs, reduced foot traffic, and structural changes to work patterns have reshaped the economics of urban retail citywide,” the company’s founder and CEO, Michael Haft, said.
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Haft also said he’s hoping the Chapter 11 process gives them a path forward to continue operating…