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24/7 Wall St.: America's Disappearing Restaurant Chains

Gloria Jean’s Coffees

Change in sales (2001-2010): -69.1 percent
Sales 2001: $135 million
Sales 2010: $41.75 million
Change in units (2001-2010): -73.6 percent

Gloria Jean’s Coffees was founded in Chicago, IL, in 1979. By 1995, the brand spread to Australia, where it is a huge success today. In the U.S., the brand, which was owned by Diedrich Coffee, expanded rapidly, reaching 330 locations by 2001. This expansion proved too much for the company, which began to have financial troubles. Diedrich sold off the international segment of Gloria Jean in 2005. In 2006, it sold a large number of cafes to Starbucks. In 2009, Diedrich sold the remaining Gloria Jean’s Coffees to Praise International North America. As of 2010, only 87 cafes remain.

(Photo Credit: http://www.flickr.com/photos/davebinm/3695647023/)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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