Patrick Dempsey, the TV actor who starred in the Seattle-based television show “Grey’s Anatomy,” and who agreed to buy the Island-owned Tully’s, has now quit the deal due to problems with his business partner.
The television star is suing his business partner, Michael Avenatti, last week, over the financing of their Global Baristas company, according to the Daily Business Journal.
The pair formed the company to buy Tully’s out of bankruptcy in January. Dempsey filed suit in King County Superior Court, claiming that Avenatti borrowed $2 million against the assets of the new company without telling Dempsey, The Business Journal said.
Just two days later, Dempsey said he is out of the partnership.
In a joint statement issued by Dempsey and Avenatti on Friday, Dempsey said:
“Although Michael and I have dissolved our business relationship, I am happy to have been a part of the effort that brought awareness to the Tully’s brand. I wish the company and Michael all the best. I am happy that we have resolved our differences and have put this behind us, and I know we each wish the other well in our respective future endeavors.”
Avenatti vows to move ahead with keeping Tully’s.
“Great things are on the horizon for Tully’s and Seattle,” he said.