News

Tim Hortons coffee chain will close 36 stores, 18 kiosks in US

November 11, 2010

Oakville, Ontario-based coffee-and-doughnut chain Tim Hortons will step back in the New England market and close 36 stores and 18 self-service kiosks, the Canadian Press reports.

The store closures could cost as much as $50 million in charges in the final two quarters of 2010. President and CEO Don Schroeder says the chain has learned from its experience and will open 300 new stores in the United States over the next three years. Tim Hortons operates 3,703 restaurants, including 3,082 in Canada.