New offer for Tully's from investors include actor Patrick Dempsey
By REPORTER STAFF
Mercer Island Reporter Staff
December 27, 2012 · Updated 12:05 PM
There is now another offer to purchase Tully's Coffee, this one coming from a group of investors which includes actor Patrick Dempsey.
The coffee chain, which filed for bankruptcy in October, has a deal with Boulder, Colo. based Kachi Partners in November to sell the company for $1.5 million in cash, assuming around $3 million in past and future liabilities.
Dempsey's group did not release the finical terms of the bid, but said they hoped it would be a way to save hundreds of jobs and give back to the city, which plays the host to Grey's Anatomy, the hit television show starring Dempsey.
Another bid for the coffee chain was put in by Baristas Coffee, a company which owns several Seattle area coffee drive thrus, where baristas are known for wearing costumes. Barisitas Coffee, based in Kent, offered $1.5 million in cash and would take on around $2.8 million in liabilities.
Bids must have been made by Thursday, Dec. 27 for the bankruptcy court, with an auction scheduled on Jan. 3.
Tully's listed $3.7 million in debts when it filed for bankruptcy and since filing closed several local stores.Contact Mercer Island Reporter Staff Reporter Staff at email@example.com.