CHICAGO — The Chicago-based upscale coffee chain Bow Truss has closed 10 locations Thursday as the business scrambles to pay employees and rent.
Founder Phil Tadros confirmed to the Chicago Tribune that all locations were closed until he can find funding.
The closures come about a month after Marcus Lemonis, host of CNBC’s “The Profit” and CEO of Camping World, said he had paid several million dollars for a majority stake in Bow Truss.
Tadros said he was expecting funding from Lemonis last Friday, but he never received it. According to the Tribune, Lemonis said Thursday he has “zero interest” in partnering with Tadros over concerns about finances and transparency.
There is no timetable as to when the coffee shops may reopen.
The closures were first reported by Crain’s Chicago Business.