Patrick Dempsey to buy Seattle-based Tully's Coffee?
Tully's filed for chapter 11 in October and has since had to close 19 unprofitable locations and reduce overhead. Dempsey explains that his bid is a way to potentially save 500 jobs and give back to Seattle.
"I've always loved this city, and with the purchase of Tully's Coffee, I plan to spend a lot of time in Seattle and the stores connecting with the community and growing the Tully's brand," Dempsey says in a statement per the Seattle Times. "Seattle may be my home away from home in the very near future."
Dempsey's group isn't the only one making a bid for Tully's, though. In November, Tully's reached a deal with private-equity firm Kachi Partners, of Boulder, Colo., to purchase the business for $1.5 million in cash and the assumption of about $3 million in liabilities. Additionally, Baristas Coffee, which owns six drive-thru locations where you can get coffee served to you by "attractive female baristas in entertaining costumes," has proposed to pay about $1.5 million in cash for the company.
A bankruptcy auction is scheduled for Jan. 3, and bids are due Thursday.
Notably, this isn't Dempsey's first instance of giving back to the Seattle community. The King County Council honored him two years ago for his fundraising efforts for Seattle Children's Hospital.