Another Recession Victim, Tully’s Coffee Pulls Its IPO

247wallst — Thu, 07 Feb 2008 13:22:21 +0000

Tully’s Coffee Corporation has withdrawn its filing for an initial public offering that was originally filed on July 26, 2007. The reason is simply "because of unfavorable market conditions." This was never going to represent a significant challenge to Starbucks, but it is at least one less public competitor.

Tully’s has been around since 1992 and it does have coffee shops in Washington, Oregon, Idaho, California, and Arizona. It even has Japan operations. Although the company had originally postponed its IPO on August 14, 2007, this is the official withdrawal and this one won’t be public for quite some time (if ever).

If you take a look at our own IPO INDEX on our site, you might fall under the impression that the only companies coming public in this environment are the former blank check IPO’s or the SPAC’s.

Jon C. Ogg
February 7, 2008

24/7 Wall St. » Tully’s

Another Recession Victim, Tully’s Coffee Pulls Its IPO