Black Rifle Coffee closing 12 company-owned stores, including in Texas
(Photo by Sean Gallup/Getty Images)
SAN ANTONIO, Texas - Veteran-founded chain Black Rifle Coffee will be closing at least a dozen company-owned stores as a part of a broader effort to cut costs.
The closures were announced in a news release detailing the company’s third-quarter financial results. While overall revenue was higher, the company’s quarterly net loss widened to $8.7 million, compared to a net loss of $1.2 million in the same quarter last year.
Which stores are closing
What we know:
Black Rifle Coffee did not disclose which 12 coffee shops will soon be shuttered, but local news organizations have reported that at least one store in Texas could be on the list.
According to the San Antonio Express-News, a representative for the coffee chain confirmed San Antonio's Live Oak store will be closing next year.
Operations are expected to cease by the end of the first quarter of 2027, according to the company’s filing with the U.S. Securities and Exchange Commission.
Chief Financial Officer Matt Amigh said in a news release the company has also modified eight leases for locations it no longer intends to develop. He did not clarify which locations were affected.
What they're saying:
"These actions mark a significant step toward a more asset-light operating model, which we expect will support franchise-led retail growth, lower capital requirements, and create a more efficient cost structure," Amigh said.
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Company has strong Texas ties
The backstory:
Black Rifle Coffee has strong Texas ties, with multiple coffee shops located throughout the state.
The first physical location opened in San Antonio, where the company also maintains a corporate office. The coffee company also entered into a partnership with the Dallas Cowboys in 2022.
Fox Local has reached out to the company for more information on the locations closing.
The Source: The information in this article comes from a news release from Black Rifle Coffee, as well as the company's SEC filing and previous Fox Local reporting. Information on possible closures in Texas comes from the San Antonio Express News.