When it was announced that Tim Hortons was closing its restaurants in Michigan, the news was met with disappointment and sadness from many of the coffee chain’s customers. However, there are a few reasons why this might be the case.
Tim Hortons has been struggling financially for a while now. In 2017, the company reported a net loss of $58 million, and it’s not surprising that they would want to close stores in locations where they’re not making a profit. In Michigan, the company has been losing money for years. In 2016, they lost $2.
3 million there, and in 2017 they lost another $2.9 million.
Another reason for the closures is that Tim Hortons is trying to focus on its core markets. In Michigan, the company has been losing customers to Starbucks, Dunkin’ Donuts, and other coffee chains.
This is probably why they’re closing stores in Michigan – they want to concentrate on areas where they have a stronger presence.
The final reason for the closures is that Tim Hortons is trying to focus on its new strategy of expanding into food. In Michigan, the company is opening restaurants that serve coffee, doughnuts, and sandwiches.
This new strategy is probably why the company is focusing on locations in Canada and the United States first.
