By SARAH SHMERLING | Editor-in-Chief
Those who get their caffeine fix at The Coffee Bean & Tea Leaf on Antioch will soon have to visit one of at least eight other coffee-serving spots within walking distance: The Palisades iteration will be closing its doors on September 29.
The store, which has been serving community members for more than two decades, is just not making enough money, an employee confirmed to the Palisadian-Post, adding that with all of the coffee shops opening up over the past year, competition grew too fierce.
Coffee Bean, headquartered in Los Angeles, was first founded in 1963 by Herb Hyman as a coffee service for offices, opening the first store in neighboring Brentwood.
The brand has since grown to more than 1,000 self-owned and franchised stores across the United States and more than 30 other countries. They are best known for their Original Ice Blended coffee (a predecessor to the Starbucks Frappuccino) and tea drinks, hot coffee, and hot and iced tea.
Philippine-based Jollibee Foods Corporation announced a $350 million acquisition of The Coffee Bean & Tea Leaf on July 24.
In the Palisades, Coffee Bean, Starbucks and Noah’s Bagels were joined by Caffe Luxxe and Estate Coffee in May 2018, followed by a handful of more spots that opened in Palisades Village, including Sweet Laurel and General Porpoise, which has since been swapped out with Alfred, another coffee spot.
“It is what it is,” the employee concluded.
Other Coffee Bean locations, including Brentwood and Santa Monica, will remain open.
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