On February 22, in response to recent rumors on the internet about Cotti Coffee closing down, Cotti Coffee responded that since its opening in October 2022, a total of 61 stores have been closed and contracts terminated.
Since the end of last year, some Cotti Coffee franchisees have reflected on social media platforms such as Xiaohongshu that Cotti Coffee appears to have supply chain issues and cash flow crises, with a large number of franchisees withdrawing.
At the same time, according to the data monitored and counted by GeoHey, in the past 90 days, Cotti Coffee has opened 476 new stores and closed 826 stores.
Cotti Coffee questioned the data and explained that the closure of 826 stores was mainly due to temporary closures during the winter break of universities, and they will resume normal operations after school starts.
SEE ALSO: A Review of Cotti Coffee’s First Store in Shanghai Created by Former Team Member of Luckin Coffee
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